Patrick Industries, Inc. (NASDAQ:PATK) Shares Bought by Marshall Wace LLP

Marshall Wace LLP increased its stake in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 973.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,051 shares of the construction company's stock after purchasing an additional 27,251 shares during the period. Marshall Wace LLP owned approximately 0.09% of Patrick Industries worth $2,497,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in shares of 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 buying an additional 109 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings 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 acquiring an additional 114 shares during the period. UMB Bank n.a. grew its position in Patrick Industries by 35.1% in the 4th quarter. UMB Bank n.a. now owns 766 shares of the construction company's stock valued at $64,000 after acquiring an additional 199 shares in the last quarter. Global Retirement Partners LLC increased its stake in Patrick Industries by 44.8% during the fourth quarter. Global Retirement Partners LLC now owns 643 shares of the construction company's stock worth $53,000 after purchasing an additional 199 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of Patrick Industries by 35.8% during the fourth quarter. IFP Advisors Inc now owns 1,044 shares of the construction company's stock worth $87,000 after purchasing an additional 275 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PATK shares. StockNews.com upgraded shares of Patrick Industries from a "sell" rating to a "hold" rating in a report on Wednesday. Truist Financial dropped their price target 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 lowered Patrick Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Benchmark lifted their target price on Patrick Industries from $98.00 to $102.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, KeyCorp cut their price target on Patrick Industries from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Four 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $95.29.

Insider Activity

In other news, EVP Stacey L. Neu sold 2,885 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total value of $246,754.05. Following the completion of the sale, the executive vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Scott Welch purchased 2,500 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $84.62 per share, for a total transaction of $211,550.00. Following the purchase, the director now directly owns 2,961 shares in the company, valued at $250,559.82. The trade was a 542.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.40% of the company's stock.

Patrick Industries Stock Up 0.4 %

NASDAQ:PATK traded up $0.36 during trading hours on Friday, hitting $81.94. The company's stock had a trading volume of 96,233 shares, compared to its average volume of 399,449. The stock has a market capitalization of $2.75 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.41 and a beta of 2.05. The company has a current ratio of 2.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average of $83.26 and a 200-day moving average of $87.37. Patrick Industries, Inc. has a 52-week low of $67.72 and a 52-week high of $98.90.

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 for the quarter, topping the consensus estimate of $0.98 by $0.13. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $959.46 million. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $1.79 EPS. On average, equities analysts forecast that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

Patrick Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.95%. Patrick Industries's dividend payout ratio is presently 38.83%.

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.