Texas Permanent School Fund Purchases 71 Shares of Patrick Industries, Inc. (PATK)
Texas Permanent School Fund boosted its stake in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,624 shares of the construction company’s stock after buying an additional 71 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Patrick Industries worth $847,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aperio Group LLC increased its position in Patrick Industries by 2.9% in the second quarter. Aperio Group LLC now owns 3,064 shares of the construction company’s stock valued at $223,000 after buying an additional 85 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Patrick Industries by 13.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,760 shares of the construction company’s stock valued at $274,000 after buying an additional 450 shares in the last quarter. Nuveen Asset Management LLC increased its position in Patrick Industries by 12.1% in the first quarter. Nuveen Asset Management LLC now owns 6,329 shares of the construction company’s stock valued at $449,000 after buying an additional 682 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Patrick Industries by 3.4% in the second quarter. Great West Life Assurance Co. Can now owns 22,980 shares of the construction company’s stock valued at $1,673,000 after buying an additional 750 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Patrick Industries by 78.0% in the second quarter. State of Alaska Department of Revenue now owns 3,132 shares of the construction company’s stock valued at $228,000 after buying an additional 1,372 shares in the last quarter. 91.21% of the stock is owned by institutional investors.
Patrick Industries, Inc. (PATK) opened at 68.95 on Tuesday. The stock has a 50 day moving average price of $73.08 and a 200 day moving average price of $72.61. The firm has a market cap of $1.16 billion, a P/E ratio of 16.86 and a beta of 0.92. Patrick Industries, Inc. has a 1-year low of $50.80 and a 1-year high of $86.10.
Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.12. Patrick Industries had a return on equity of 26.46% and a net margin of 4.66%. The firm had revenue of $407.20 million during the quarter, compared to the consensus estimate of $384.54 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The business’s revenue was up 29.2% on a year-over-year basis. On average, analysts anticipate that Patrick Industries, Inc. will post $4.34 EPS for the current year.
Several research analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Patrick Industries in a research note on Monday, June 19th. Zacks Investment Research raised Patrick Industries from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Tuesday, May 23rd. Finally, BidaskClub downgraded Patrick Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $76.00.
In other Patrick Industries news, Director Walter E. Wells sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $72.12, for a total value of $216,360.00. Following the completion of the sale, the director now owns 44,240 shares in the company, valued at $3,190,588.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.20% of the company’s stock.
Patrick Industries Company Profile
Patrick Industries, Inc is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industrial markets for customers throughout the United States and Canada. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets.
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