Dimensional Fund Advisors LP Raises Stock Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

Dimensional Fund Advisors LP grew its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 48.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,863,547 shares of the construction company's stock after buying an additional 609,036 shares during the quarter. Dimensional Fund Advisors LP owned 5.55% of Patrick Industries worth $154,823,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Epoch Investment Partners Inc. lifted its stake in shares of Patrick Industries by 94.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 51,872 shares of the construction company's stock valued at $4,310,000 after purchasing an additional 25,211 shares during the last quarter. Freedom Investment Management Inc. lifted its position in Patrick Industries by 73.4% in the fourth quarter. Freedom Investment Management Inc. now owns 2,733 shares of the construction company's stock worth $227,000 after buying an additional 1,157 shares during the last quarter. Commerce Bank boosted its stake in Patrick Industries by 48.7% during the fourth quarter. Commerce Bank now owns 7,023 shares of the construction company's stock worth $583,000 after buying an additional 2,301 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Patrick Industries by 50.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 32,082 shares of the construction company's stock valued at $2,667,000 after acquiring an additional 10,694 shares during the last quarter. Finally, Advisory Research Inc. raised its stake in shares of Patrick Industries by 50.7% in the fourth quarter. Advisory Research Inc. now owns 6,614 shares of the construction company's stock valued at $549,000 after acquiring an additional 2,226 shares during the period. Institutional investors own 93.29% of the company's stock.

Patrick Industries Stock Down 2.0 %

PATK stock traded down $1.54 during trading on Wednesday, hitting $76.98. 970,600 shares of the company's stock traded hands, compared to its average volume of 350,281. The firm has a market capitalization of $2.58 billion, a P/E ratio of 18.68, a PEG ratio of 1.41 and a beta of 2.17. Patrick Industries, Inc. has a 1 year low of $67.72 and a 1 year high of $98.90. The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $83.45 and a two-hundred day simple moving average of $87.46.

Patrick Industries (NASDAQ:PATK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The construction company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. Sell-side analysts anticipate that Patrick Industries, Inc. will post 5.33 EPS for the current year.

Patrick Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, February 18th. Patrick Industries's payout ratio is 38.83%.

Insider Transactions at Patrick Industries

In other news, EVP Stacey L. Neu sold 2,885 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total transaction of $246,754.05. Following the sale, the executive vice president now owns 18,044 shares in the company, valued at approximately $1,543,303.32. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Scott Welch acquired 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $86.22 per share, with a total value of $862,200.00. Following the completion of the transaction, the director now directly owns 136,000 shares in the company, valued at $11,725,920. The trade was a 7.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Robert W. Baird reiterated a "neutral" rating and set a $96.00 price target (down from $100.00) on shares of Patrick Industries in a report on Friday, April 4th. KeyCorp cut their target price on Patrick Industries from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. StockNews.com raised Patrick Industries from a "sell" rating to a "hold" rating in a research note on Wednesday. Baird R W downgraded shares of Patrick Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Benchmark upped their target price on shares of Patrick Industries from $98.00 to $102.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.79.

Patrick Industries Company Profile

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.