Patrick Industries, Inc. (NASDAQ:PATK) Shares Acquired by Bokf Na

BOKF NA boosted its holdings in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 53.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,073 shares of the construction company's stock after purchasing an additional 4,207 shares during the quarter. BOKF NA's holdings in Patrick Industries were worth $1,006,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in Patrick Industries during the fourth quarter valued at $25,000. Covestor Ltd increased its holdings in shares of Patrick Industries by 10,400.0% in the fourth quarter. Covestor Ltd now owns 315 shares of the construction company's stock worth $26,000 after purchasing an additional 312 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Patrick Industries by 49.8% in the fourth quarter. Quadrant Capital Group LLC now owns 328 shares of the construction company's stock worth $27,000 after purchasing an additional 109 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Patrick Industries by 49.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344 shares of the construction company's stock worth $29,000 after purchasing an additional 114 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Patrick Industries by 812.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company's stock worth $49,000 after acquiring an additional 528 shares in the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Patrick Industries Stock Performance

NASDAQ:PATK traded down $1.48 during midday trading on Wednesday, hitting $88.33. The company's stock had a trading volume of 203,225 shares, compared to its average volume of 393,651. Patrick Industries, Inc. has a fifty-two week low of $67.72 and a fifty-two week high of $98.90. The firm's 50 day moving average is $82.39 and its 200-day moving average is $86.81. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 0.77. The firm has a market cap of $2.96 billion, a P/E ratio of 21.44, a P/E/G ratio of 1.41 and a beta of 2.05.

Patrick Industries (NASDAQ:PATK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.13. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $959.46 million. During the same quarter in the previous year, the firm posted $1.79 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts anticipate that Patrick Industries, Inc. will post 5.33 earnings per share for the current fiscal year.

Insider Activity at Patrick Industries

In other news, Director M Scott Welch acquired 2,500 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $84.62 per share, for a total transaction of $211,550.00. Following the acquisition, the director now owns 2,961 shares in the company, valued at approximately $250,559.82. This represents a 542.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stacey L. Neu sold 2,885 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total value of $246,754.05. Following the sale, the executive vice president now owns 18,044 shares of the company's stock, valued at $1,543,303.32. The trade was a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. KeyCorp dropped their price target on Patrick Industries from $110.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Truist Financial reduced their target price on Patrick Industries from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Baird R W lowered Patrick Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. StockNews.com upgraded shares of Patrick Industries from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Raymond James lowered their price target on Patrick Industries from $103.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.29.

About Patrick Industries

Patrick Industries, Inc manufactures and distributes component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. Its Manufacturing segment manufactures and sells laminated products for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; RV paintings; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinets; polymer-based flooring products; dash panels; and other products.