Timucuan Asset Management Inc. FL Purchases New Position in Patrick Industries, Inc. (PATK)

Timucuan Asset Management Inc. FL purchased a new position in shares of Patrick Industries, Inc. (NASDAQ:PATK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,000 shares of the construction company’s stock, valued at approximately $296,000. Patrick Industries makes up 0.0% of Timucuan Asset Management Inc. FL’s portfolio, making the stock its 21st biggest holding.

A number of other large investors also recently made changes to their positions in PATK. PRW Wealth Management LLC purchased a new position in Patrick Industries during the 4th quarter worth $25,000. Oppenheimer Asset Management Inc. purchased a new position in Patrick Industries during the 4th quarter worth $30,000. Quantamental Technologies LLC purchased a new position in Patrick Industries during the 4th quarter worth $100,000. Meeder Asset Management Inc. grew its position in Patrick Industries by 980.4% during the 4th quarter. Meeder Asset Management Inc. now owns 4,408 shares of the construction company’s stock worth $131,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Patrick Industries by 11.7% during the 4th quarter. Bank of Montreal Can now owns 4,534 shares of the construction company’s stock worth $135,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

PATK traded up $0.45 during midday trading on Friday, reaching $45.25. 3,991 shares of the company’s stock were exchanged, compared to its average volume of 294,200. The company has a current ratio of 2.44, a quick ratio of 0.71 and a debt-to-equity ratio of 1.52. The stock has a market cap of $1.07 billion, a P/E ratio of 9.71, a PEG ratio of 0.64 and a beta of 1.92. Patrick Industries, Inc. has a 1-year low of $27.32 and a 1-year high of $67.50.



Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, February 14th. The construction company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.21. The business had revenue of $531.00 million during the quarter, compared to analyst estimates of $519.00 million. Patrick Industries had a net margin of 5.30% and a return on equity of 28.26%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. As a group, analysts forecast that Patrick Industries, Inc. will post 4.76 EPS for the current fiscal year.

In related news, Director Walter E. Wells sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $45.34, for a total value of $45,340.00. Following the completion of the sale, the director now directly owns 60,030 shares in the company, valued at $2,721,760.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey L. Et Al Gendell sold 222,347 shares of the business’s stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $30.34, for a total transaction of $6,746,007.98. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on PATK. BidaskClub downgraded shares of Patrick Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Wells Fargo & Co lifted their target price on shares of Patrick Industries from $30.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, February 27th. KeyCorp lifted their target price on shares of Patrick Industries from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, February 19th. Zacks Investment Research raised shares of Patrick Industries from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet downgraded shares of Patrick Industries from a “b-” rating to a “c+” rating in a report on Wednesday, December 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $66.60.

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Patrick Industries Profile

Patrick Industries, Inc manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, walls, countertops, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication products; RV paintings; fabricated aluminum products; fiberglass and plastic components; softwoods lumber; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument and dash panels, and other products.

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Institutional Ownership by Quarter for Patrick Industries (NASDAQ:PATK)

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