Patrick Industries, Inc. (PATK) Holdings Raised by Stifel Financial Corp
Stifel Financial Corp raised its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 228,182 shares of the construction company’s stock after purchasing an additional 14,565 shares during the quarter. Stifel Financial Corp owned 1.36% of Patrick Industries worth $19,189,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ameritas Investment Partners Inc. raised its stake in Patrick Industries by 13.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,421 shares of the construction company’s stock valued at $104,000 after acquiring an additional 168 shares in the last quarter. Pinebridge Investments L.P. raised its stake in Patrick Industries by 10.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,097 shares of the construction company’s stock valued at $153,000 after acquiring an additional 191 shares in the last quarter. Advisor Group Inc. raised its stake in Patrick Industries by 12.1% during the 2nd quarter. Advisor Group Inc. now owns 2,296 shares of the construction company’s stock valued at $168,000 after acquiring an additional 247 shares in the last quarter. Pacad Investment Ltd. raised its stake in Patrick Industries by 76.9% during the 2nd quarter. Pacad Investment Ltd. now owns 2,300 shares of the construction company’s stock valued at $168,000 after acquiring an additional 1,000 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in Patrick Industries during the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 89.33% of the company’s stock.
Shares of Patrick Industries, Inc. (NASDAQ PATK) opened at $97.30 on Thursday. Patrick Industries, Inc. has a 12 month low of $60.10 and a 12 month high of $102.95. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1,641.82, a price-to-earnings ratio of 22.33, a PEG ratio of 2.04 and a beta of 0.99.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.15. Patrick Industries had a return on equity of 24.60% and a net margin of 4.73%. The company had revenue of $407.50 million for the quarter, compared to the consensus estimate of $371.98 million. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. research analysts forecast that Patrick Industries, Inc. will post 4.53 earnings per share for the current fiscal year.
In other news, EVP Jeff Rodino sold 3,511 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $102.22, for a total transaction of $358,894.42. Following the sale, the executive vice president now directly owns 75,315 shares of the company’s stock, valued at $7,698,699.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey L. Et Al Gendell sold 26,058 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $85.70, for a total value of $2,233,170.60. The disclosure for this sale can be found here. Insiders sold a total of 231,937 shares of company stock worth $19,610,244 in the last three months. Company insiders own 5.20% of the company’s stock.
Several analysts have weighed in on PATK shares. Zacks Investment Research downgraded Patrick Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Bank of America lifted their target price on Patrick Industries from $85.00 to $93.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Patrick Industries in a research note on Thursday, October 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $84.50.
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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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