2,420 Shares in Patrick Industries, Inc. (NASDAQ:PATK) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new position in Patrick Industries, Inc. (NASDAQ:PATK) in the 4th quarter, Holdings Channel reports. The firm acquired 2,420 shares of the construction company’s stock, valued at approximately $243,000.

Several other hedge funds also recently added to or reduced their stakes in PATK. Tower Research Capital LLC TRC grew its position in Patrick Industries by 129.6% in the first quarter. Tower Research Capital LLC TRC now owns 489 shares of the construction company’s stock worth $34,000 after acquiring an additional 276 shares during the period. Carmel Capital Partners LLC purchased a new position in shares of Patrick Industries during the third quarter worth $44,000. Gyon Technologies Capital Management LP purchased a new position in shares of Patrick Industries during the fourth quarter worth $48,000. Quantbot Technologies LP purchased a new position in shares of Patrick Industries during the second quarter worth $71,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Patrick Industries by 12.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,800 shares of the construction company’s stock worth $79,000 after buying an additional 195 shares during the period. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Patrick Industries Stock Down 1.5 %

Shares of NASDAQ PATK opened at $102.64 on Friday. The stock has a market cap of $2.30 billion, a P/E ratio of 15.77, a PEG ratio of 0.67 and a beta of 1.72. The company has a current ratio of 2.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.97. Patrick Industries, Inc. has a 12-month low of $63.57 and a 12-month high of $123.58. The business’s fifty day simple moving average is $113.23 and its 200-day simple moving average is $96.65.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings results on Thursday, February 8th. The construction company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.10. Patrick Industries had a return on equity of 14.31% and a net margin of 4.12%. The company had revenue of $781.20 million for the quarter, compared to analysts’ expectations of $780.97 million. During the same period last year, the firm earned $1.82 earnings per share. Patrick Industries’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, equities analysts predict that Patrick Industries, Inc. will post 8 EPS for the current fiscal year.

Patrick Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Tuesday, February 20th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Friday, February 16th. Patrick Industries’s dividend payout ratio is presently 33.79%.

Insider Buying and Selling at Patrick Industries

In other Patrick Industries news, Director Michael A. Kitson sold 3,290 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $110.87, for a total value of $364,762.30. Following the sale, the director now directly owns 8,553 shares in the company, valued at $948,271.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Michael A. Kitson sold 3,290 shares of Patrick Industries stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $110.87, for a total transaction of $364,762.30. Following the sale, the director now owns 8,553 shares in the company, valued at $948,271.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kip B. Ellis sold 18,000 shares of Patrick Industries stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $115.00, for a total value of $2,070,000.00. Following the sale, the insider now owns 108,778 shares in the company, valued at approximately $12,509,470. The disclosure for this sale can be found here. Insiders have sold a total of 48,873 shares of company stock worth $5,681,957 over the last ninety days. Corporate insiders own 4.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PATK shares. StockNews.com lowered Patrick Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Truist Financial restated a “buy” rating and set a $130.00 price target on shares of Patrick Industries in a research report on Friday, April 12th. Roth Mkm raised their price target on Patrick Industries from $101.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, KeyCorp increased their price objective on Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Patrick Industries presently has an average rating of “Moderate Buy” and an average target price of $103.00.

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.