Centaurus Financial Inc. acquired a new stake in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 53,056 shares of the construction company's stock, valued at approximately $4,763,000. Centaurus Financial Inc. owned about 0.17% of Patrick Industries as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Patrick Industries by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,302 shares of the construction company's stock valued at $1,632,000 after buying an additional 851 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Patrick Industries by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,446 shares of the construction company's stock worth $5,957,000 after acquiring an additional 3,748 shares during the last quarter. Strs Ohio bought a new stake in Patrick Industries during the first quarter worth approximately $42,000. Cetera Investment Advisers raised its position in Patrick Industries by 64.8% during the second quarter. Cetera Investment Advisers now owns 6,058 shares of the construction company's stock valued at $559,000 after purchasing an additional 2,381 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of Patrick Industries in the 2nd quarter valued at approximately $340,000. 93.29% of the stock is owned by hedge funds and other institutional investors.
Patrick Industries Trading Down 0.7%
PATK opened at $83.09 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.96 and a current ratio of 2.67. The stock's 50 day moving average price is $86.23 and its 200-day moving average price is $99.86. Patrick Industries, Inc. has a one year low of $81.29 and a one year high of $148.50. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 19.69 and a beta of 1.11.
Patrick Industries (NASDAQ:PATK - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. Patrick Industries had a return on equity of 12.69% and a net margin of 3.74%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $994.95 million. During the same period last year, the company earned $1.50 EPS. Patrick Industries's quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that Patrick Industries, Inc. will post 4.26 EPS for the current year.
Patrick Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be paid a $0.47 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.88 dividend on an annualized basis and a yield of 2.3%. Patrick Industries's dividend payout ratio (DPR) is presently 44.55%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Raymond James Financial reissued an "outperform" rating and set a $94.00 target price on shares of Patrick Industries in a research report on Friday, July 31st. Benchmark restated a "buy" rating and issued a $115.00 price target (down from $135.00) on shares of Patrick Industries in a research report on Tuesday, August 11th. Truist Financial set a $108.00 price objective on shares of Patrick Industries and gave the stock a "buy" rating in a research note on Monday, August 10th. Roth Capital set a $114.00 price objective on shares of Patrick Industries in a research report on Friday, July 31st. Finally, Robert W. Baird set a $110.00 target price on shares of Patrick Industries in a research note on Friday, May 1st. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Patrick Industries currently has an average rating of "Moderate Buy" and an average price target of $113.12.
Get Our Latest Stock Analysis on PATK
Patrick Industries Profile
(
Free Report)
Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.
Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.
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