Centaurus Financial Inc. Sells 1,643 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

Centaurus Financial Inc. decreased its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,184 shares of the construction company’s stock after selling 1,643 shares during the period. Centaurus Financial Inc. owned approximately 0.22% of Patrick Industries worth $4,835,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Patrick Industries during the fourth quarter valued at $35,000. Xponance Inc. bought a new stake in Patrick Industries during the fourth quarter valued at $203,000. Heritage Wealth Management LLC bought a new stake in Patrick Industries during the fourth quarter valued at $238,000. Everence Capital Management Inc. bought a new stake in Patrick Industries during the fourth quarter valued at $243,000. Finally, Carmel Capital Partners LLC boosted its stake in Patrick Industries by 418.6% during the fourth quarter. Carmel Capital Partners LLC now owns 3,044 shares of the construction company’s stock valued at $305,000 after buying an additional 2,457 shares during the period. Institutional investors own 93.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $130.00 price target on shares of Patrick Industries in a research note on Friday, April 12th. Roth Mkm reaffirmed a “buy” rating and set a $126.00 price target (up previously from $120.00) on shares of Patrick Industries in a research note on Monday, May 6th. BMO Capital Markets lifted their price target on Patrick Industries from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, StockNews.com lowered Patrick Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Patrick Industries has an average rating of “Moderate Buy” and an average price target of $106.71.

Patrick Industries Trading Down 1.6 %

Shares of NASDAQ PATK traded down $1.65 during midday trading on Friday, reaching $103.50. The company had a trading volume of 153,788 shares, compared to its average volume of 114,763. Patrick Industries, Inc. has a one year low of $70.15 and a one year high of $123.58. The company has a quick ratio of 0.96, a current ratio of 2.38 and a debt-to-equity ratio of 1.32. The firm’s fifty day moving average price is $109.65 and its 200-day moving average price is $106.18. The stock has a market cap of $2.32 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 0.75 and a beta of 1.70.

Patrick Industries (NASDAQ:PATK) last released its earnings results on Thursday, May 2nd. The construction company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.47. Patrick Industries had a return on equity of 14.90% and a net margin of 4.22%. The company had revenue of $933.50 million during the quarter, compared to analyst estimates of $829.22 million. During the same quarter in the previous year, the company posted $1.35 EPS. Patrick Industries’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Patrick Industries, Inc. will post 8.12 earnings per share for the current year.

Patrick Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.20 dividend on an annualized basis and a yield of 2.13%. Patrick Industries’s dividend payout ratio is presently 32.59%.

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.