Dimensional Fund Advisors LP increased its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 0.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 675,042 shares of the construction company’s stock after acquiring an additional 2,083 shares during the period. Dimensional Fund Advisors LP owned about 4.01% of Patrick Industries worth $56,771,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its stake in Patrick Industries by 19.4% during the 2nd quarter. Voya Investment Management LLC now owns 7,158 shares of the construction company’s stock worth $521,000 after buying an additional 1,163 shares during the last quarter. Legal & General Group Plc grew its stake in Patrick Industries by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 28,863 shares of the construction company’s stock worth $2,105,000 after buying an additional 2,548 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Patrick Industries during the 2nd quarter worth $873,000. Piedmont Investment Advisors LLC purchased a new position in Patrick Industries during the 2nd quarter worth $251,000. Finally, Stifel Financial Corp grew its stake in Patrick Industries by 17.1% during the 2nd quarter. Stifel Financial Corp now owns 213,617 shares of the construction company’s stock worth $15,557,000 after buying an additional 31,232 shares during the last quarter. Institutional investors own 59.53% of the company’s stock.
Shares of Patrick Industries, Inc. (NASDAQ PATK) opened at $65.10 on Thursday. Patrick Industries, Inc. has a 52 week low of $40.07 and a 52 week high of $71.13. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1,640.00, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 1.63 and a beta of 0.98.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings results on Thursday, October 26th. The construction company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The business had revenue of $407.50 million during the quarter, compared to analyst estimates of $371.98 million. Patrick Industries had a return on equity of 24.60% and a net margin of 4.73%. The business’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. equities analysts anticipate that Patrick Industries, Inc. will post 3.05 earnings per share for the current year.
In other Patrick Industries news, EVP Jeff Rodino sold 3,511 shares of the company’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 transaction, the executive vice president now directly owns 75,315 shares in the company, valued at $7,698,699.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Courtney Blosser sold 6,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $101.28, for a total value of $607,680.00. Following the transaction, the insider now owns 28,214 shares in the company, valued at $2,857,513.92. The disclosure for this sale can be found here. Insiders sold 60,234 shares of company stock worth $5,623,018 over the last quarter. 5.20% of the stock is currently owned by insiders.
A number of analysts have commented on the company. BidaskClub cut Patrick Industries from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised Patrick Industries from a “hold” rating to a “buy” rating and set a $62.67 price objective for the company in a report on Friday, September 29th. Robert W. Baird reissued a “buy” rating on shares of Patrick Industries in a report on Thursday, October 12th. ValuEngine raised Patrick Industries from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Finally, KeyCorp initiated coverage on Patrick Industries in a report on Friday, December 15th. They issued an “overweight” rating and a $80.00 price target for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $68.80.
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About Patrick Industries
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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