Janus Henderson Group PLC boosted its position in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,365 shares of the construction company's stock after acquiring an additional 4,788 shares during the quarter. Janus Henderson Group PLC's holdings in Patrick Industries were worth $1,195,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in shares of Patrick Industries during the fourth quarter worth $25,000. Covestor Ltd increased its stake in Patrick Industries by 10,400.0% in the fourth quarter. Covestor Ltd now owns 315 shares of the construction company's stock valued at $26,000 after purchasing an additional 312 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Patrick Industries by 49.8% during 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 in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Patrick Industries by 49.6% during 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 boosted its holdings in shares of Patrick Industries by 812.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company's stock valued at $49,000 after buying an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 93.29% of the company's stock.
Insiders Place Their Bets
In other news, EVP Stacey L. Neu sold 2,885 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $85.53, for a total transaction of $246,754.05. Following the transaction, the executive vice president now directly owns 18,044 shares of the company's stock, valued at $1,543,303.32. This represents a 13.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director M Scott Welch purchased 10,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $86.22 per share, with a total value of $862,200.00. Following the acquisition, the director now directly owns 136,000 shares in the company, valued at approximately $11,725,920. This represents a 7.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 23,500 shares of company stock worth $2,026,000. 4.70% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Roth Mkm reissued a "buy" rating and issued a $100.00 price target (down from $112.00) on shares of Patrick Industries in a research report on Friday, May 2nd. Raymond James decreased their target price on Patrick Industries from $103.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Truist Financial dropped their price target 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. Wall Street Zen upgraded Patrick Industries from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Benchmark increased their price objective on Patrick Industries from $98.00 to $102.00 and gave the company a "buy" rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Patrick Industries currently has a consensus rating of "Moderate Buy" and an average target price of $96.29.
Check Out Our Latest Stock Report on Patrick Industries
Patrick Industries Stock Performance
Patrick Industries stock traded down $0.03 during trading hours on Wednesday, reaching $87.75. 14,104 shares of the stock were exchanged, compared to its average volume of 355,410. The stock has a market cap of $2.93 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.41 and a beta of 2.05. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.77 and a current ratio of 2.33. Patrick Industries, Inc. has a 52-week low of $67.72 and a 52-week high of $98.90. The firm's 50 day moving average is $82.78 and its 200 day moving average is $87.02.
Patrick Industries (NASDAQ:PATK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.11 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $959.46 million. During the same quarter last year, the firm earned $1.79 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. Analysts predict that Patrick Industries, Inc. will post 5.33 EPS for the current fiscal year.
Patrick Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, May 27th. Patrick Industries's dividend payout ratio is presently 38.37%.
Patrick Industries Company Profile
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Free Report)
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.
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