Patrick Industries, Inc. (NASDAQ:PATK) Shares Acquired by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lifted its stake in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,838 shares of the construction company’s stock after buying an additional 3,866 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.05% of Patrick Industries worth $1,482,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in Patrick Industries in the 4th quarter worth $25,000. Smartleaf Asset Management LLC increased its holdings in shares of Patrick Industries by 812.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company’s stock valued at $49,000 after purchasing an additional 528 shares during the period. Quent Capital LLC purchased a new position in shares of Patrick Industries in the fourth quarter worth about $53,000. Global Retirement Partners LLC lifted its holdings in shares of Patrick Industries by 44.8% during the fourth quarter. Global Retirement Partners LLC now owns 643 shares of the construction company’s stock worth $53,000 after purchasing an additional 199 shares during the period. Finally, GAMMA Investing LLC boosted its position in Patrick Industries by 61.2% in the fourth quarter. GAMMA Investing LLC now owns 764 shares of the construction company’s stock valued at $63,000 after buying an additional 290 shares during the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PATK has been the subject of several research reports. Truist Financial lifted their price objective on shares of Patrick Industries from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Benchmark boosted their target price on shares of Patrick Industries from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com lowered shares of Patrick Industries from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Raymond James lifted their price objective on Patrick Industries from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, KeyCorp upped their target price on Patrick Industries from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.96.

Patrick Industries Stock Down 3.5 %

Shares of PATK opened at $83.90 on Friday. The stock has a 50 day moving average price of $91.05 and a 200 day moving average price of $89.84. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.77 and a current ratio of 2.33. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.41 and a beta of 2.37. Patrick Industries, Inc. has a one year low of $67.72 and a one year high of $98.90.

Patrick Industries (NASDAQ:PATK) last issued its earnings results on Thursday, February 6th. The construction company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Patrick Industries had a net margin of 3.72% and a return on equity of 13.25%. Equities research analysts forecast that Patrick Industries, Inc. will post 5.33 earnings per share for the current fiscal year.

Patrick Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Tuesday, February 18th. Patrick Industries’s dividend payout ratio is currently 38.83%.

Insider Activity

In other news, Director M Scott Welch acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $84.62 per share, with a total value of $211,550.00. Following the completion of the acquisition, the director now owns 2,961 shares of the company’s stock, valued at $250,559.82. This trade represents a 542.30 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stacey L. Neu sold 2,885 shares of Patrick Industries stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total transaction of $246,754.05. Following the transaction, the executive vice president now directly owns 18,044 shares in the company, valued at $1,543,303.32. This trade represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.

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.