Patrick Industries, Inc. (NASDAQ:PATK) Shares Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. increased its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 37.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,347 shares of the construction company's stock after purchasing an additional 16,002 shares during the period. Centaurus Financial Inc. owned 0.17% of Patrick Industries worth $4,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Patrick Industries by 49.3% during the fourth quarter. Vanguard Group Inc. now owns 2,326,262 shares of the construction company's stock valued at $193,266,000 after purchasing an additional 768,102 shares in the last quarter. Wellington Management Group LLP boosted its stake in Patrick Industries by 391.8% in the fourth quarter. Wellington Management Group LLP now owns 2,027,708 shares of the construction company's stock valued at $168,462,000 after acquiring an additional 1,615,412 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Patrick Industries by 48.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,863,547 shares of the construction company's stock valued at $154,823,000 after acquiring an additional 609,036 shares in the last quarter. Capital World Investors boosted its stake in Patrick Industries by 50.0% in the fourth quarter. Capital World Investors now owns 944,319 shares of the construction company's stock valued at $78,454,000 after acquiring an additional 314,773 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Patrick Industries by 50.0% in the fourth quarter. Geode Capital Management LLC now owns 779,223 shares of the construction company's stock valued at $64,752,000 after acquiring an additional 259,783 shares in the last quarter. 93.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PATK shares. Robert W. Baird lowered their target price on shares of Patrick Industries from $96.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Truist Financial lowered their target price on shares of Patrick Industries from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, April 14th. 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. Wall Street Zen upgraded shares of Patrick Industries from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Roth Mkm reiterated a "buy" rating and set a $100.00 price objective (down from $112.00) on shares of Patrick Industries in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Patrick Industries Stock Performance

Shares of Patrick Industries stock traded down $0.70 during trading on Friday, hitting $85.60. 294,042 shares of the company's stock were exchanged, compared to its average volume of 358,527. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.77 and a current ratio of 2.33. The business has a 50-day simple moving average of $82.76 and a 200-day simple moving average of $86.99. Patrick Industries, Inc. has a 52-week low of $67.72 and a 52-week high of $98.90. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.41 and a beta of 2.05.

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

Patrick Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.60 dividend on an annualized basis and a yield of 1.87%. Patrick Industries's payout ratio is 38.37%.

Insider Buying and Selling at Patrick Industries

In other Patrick Industries news, EVP Stacey L. Neu sold 2,885 shares of Patrick Industries stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $85.53, for a total value of $246,754.05. Following the completion of the transaction, the executive vice president now owns 18,044 shares of the company's stock, valued at approximately $1,543,303.32. The trade was a 13.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Scott Welch bought 2,500 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $84.62 per share, with a total value of $211,550.00. Following the purchase, the director now directly owns 2,961 shares of the company's stock, valued at approximately $250,559.82. This represents a 542.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 23,500 shares of company stock valued at $2,026,000. Corporate insiders own 4.40% of the company's stock.

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.