Patrick Industries, Inc. (NASDAQ:PATK) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG increased its stake in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 118.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,445 shares of the construction company's stock after acquiring an additional 15,421 shares during the period. Deutsche Bank AG owned about 0.08% of Patrick Industries worth $2,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PATK. Kestra Investment Management LLC acquired a new stake in shares of Patrick Industries during the 4th quarter valued at about $25,000. Covestor Ltd raised its position in shares of Patrick Industries by 10,400.0% during the 4th 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 lifted its stake in Patrick Industries by 49.8% in the 4th quarter. Quadrant Capital Group LLC now owns 328 shares of the construction company's stock valued at $27,000 after buying an additional 109 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Patrick Industries by 49.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344 shares of the construction company's stock worth $29,000 after buying an additional 114 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in 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 buying an additional 528 shares in the last quarter. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Patrick Industries

In other Patrick Industries news, Director M Scott Welch acquired 10,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $86.22 per share, for a total transaction of $862,200.00. Following the acquisition, the director now owns 136,000 shares in the company, valued at $11,725,920. The trade was a 7.94% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stacey L. Neu sold 2,885 shares of the firm'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 transaction of $246,754.05. Following the transaction, the executive vice president now owns 18,044 shares in the company, valued at approximately $1,543,303.32. This trade represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 23,500 shares of company stock valued at $2,026,000. Insiders own 4.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PATK. KeyCorp lowered their price target 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. Wall Street Zen raised shares of Patrick Industries from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Baird R W lowered shares of Patrick Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Raymond James decreased their price target on shares of Patrick Industries from $103.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Robert W. Baird lowered their price target on shares of Patrick Industries from $96.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.29.

Patrick Industries Trading Down 0.2%

Shares of PATK traded down $0.17 during mid-day trading on Friday, reaching $86.10. The stock had a trading volume of 232,814 shares, compared to its average volume of 357,615. The business's fifty day moving average is $82.70 and its 200 day moving average is $87.00. Patrick Industries, Inc. has a 52-week low of $67.72 and a 52-week high of $98.90. 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 $2.88 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 1.41 and a beta of 2.05.

Patrick Industries (NASDAQ:PATK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.13. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $959.46 million. During the same period in the prior year, the firm earned $1.79 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts predict that Patrick Industries, Inc. will post 5.33 EPS for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, May 27th. Patrick Industries's dividend payout ratio is presently 38.37%.

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.