Patrick Industries, Inc. (NASDAQ:PATK) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its stake in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 54.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,236 shares of the construction company's stock after acquiring an additional 9,290 shares during the quarter. Benjamin Edwards Inc. owned about 0.08% of Patrick Industries worth $2,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PATK. Quadrant Capital Group LLC grew its stake in Patrick Industries by 49.8% during the 4th quarter. Quadrant Capital Group LLC now owns 328 shares of the construction company's stock valued at $27,000 after purchasing an additional 109 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Patrick Industries by 49.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344 shares of the construction company's stock valued at $29,000 after purchasing an additional 114 shares during the last quarter. UMB Bank n.a. grew its stake in Patrick Industries by 35.1% during the 4th quarter. UMB Bank n.a. now owns 766 shares of the construction company's stock valued at $64,000 after purchasing an additional 199 shares during the last quarter. Global Retirement Partners LLC grew its stake in Patrick Industries by 44.8% during the 4th quarter. Global Retirement Partners LLC now owns 643 shares of the construction company's stock valued at $53,000 after purchasing an additional 199 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in Patrick Industries by 35.8% during the 4th quarter. IFP Advisors Inc now owns 1,044 shares of the construction company's stock valued at $87,000 after purchasing an additional 275 shares during the last quarter. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director M Scott Welch bought 2,500 shares of Patrick Industries stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $84.62 per share, with a total value of $211,550.00. Following the completion of the acquisition, the director now directly owns 2,961 shares of the company's stock, valued at $250,559.82. The trade was a 542.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Stacey L. Neu sold 2,885 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 18,044 shares of the company's stock, valued at $1,543,303.32. The trade was a 13.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. 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. Roth Mkm restated a "buy" rating and issued a $100.00 target price (down previously from $112.00) on shares of Patrick Industries in a research note on Friday, May 2nd. Raymond James lowered their target price on Patrick Industries from $103.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. StockNews.com upgraded Patrick Industries from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Baird R W downgraded Patrick Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Patrick Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

Patrick Industries Price Performance

Shares of PATK stock traded up $4.16 during trading hours on Monday, hitting $86.94. 62,107 shares of the company's stock were exchanged, compared to its average volume of 352,301. 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 firm has a market cap of $2.92 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.41 and a beta of 2.05. The firm has a 50 day moving average of $82.34 and a two-hundred day moving average of $86.81. Patrick Industries, Inc. has a fifty-two week low of $67.72 and a fifty-two week high of $98.90.

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

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.