2 weeks Ago By Defense World Staff
Bank of Montreal Can boosted its stake in Patrick Industries, Inc. ( NASDAQ:PATK – Free Report ) by 68.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC.
The firm owned 3,868 shares of the construction company’s stock after acquiring an additional 1,575 shares during the period. Bank of Montreal Can’s holdings in Patrick Industries were worth $321,000 as of its most recent filing with the SEC. A number of other institutional investors and hedge funds have also recently modified their holdings of the stock.
Kestra Investment Management LLC purchased a new stake in Patrick Industries during the fourth quarter valued at about $25,000. Quadrant Capital Group LLC raised its position in shares of Patrick Industries by 49.8% in the fourth quarter.
Quadrant Capital Group LLC now owns 328 shares of the construction company’s stock worth $27,000 after buying an additional 109 shares in the last quarter. Nomura Asset Management Co. Ltd.
increased its stake in Patrick Industries by 49.6% in the 4th quarter. Nomura Asset Management Co.
Ltd. now owns 344 shares of the construction company’s stock worth $29,000 after acquiring an additional 114 shares during the last quarter. Smartleaf Asset Management LLC increased its position 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 worth $49,000 after purchasing an additional 528 shares during the last quarter. Finally, Quent Capital LLC bought a new position in Patrick Industries in the fourth quarter valued at $53,000.
93.29% of the stock is owned by institutional investors. Analysts Set New Price Targets A number of analysts recently weighed in on the company.
Benchmark boosted their target price on Patrick Industries from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, February 7th.
Baird R W lowered Patrick Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Truist Financial dropped their price objective on Patrick Industries from $120.00 to $110.
00 and set a “buy” rating for the company in a research note on Monday, April 14th. KeyCorp lowered their price objective on shares of Patrick Industries from $110.00 to $100.
00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Raymond James lifted their price objective on Patrick Industries from $99.00 to $103.
00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.
com, Patrick Industries currently has a consensus rating of “Moderate Buy” and an average price target of $96.79. Insider Activity In related news, Director M Scott Welch acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th.
The stock was bought at an average cost of $86.22 per share, for a total transaction of $862,200.00.
Following the purchase, the director now owns 136,000 shares in the company, valued at $11,725,920. The trade was a 7.94 % increase in their position.
The transaction was disclosed in a filing with the SEC, which is accessible through this link . Also, EVP Stacey L. Neu sold 2,885 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th.
The stock was sold at an average price of $85.53, for a total transaction of $246,754.05.
Following the sale, the executive vice president now owns 18,044 shares in the company, valued at approximately $1,543,303.32. The trade was a 13.
78 % decrease in their position. The disclosure for this sale can be found here . Insiders own 4.
70% of the company’s stock. Patrick Industries Stock Performance Shares of PATK stock opened at $77.96 on Thursday.
The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.
16. The company has a 50 day moving average price of $84.96 and a 200-day moving average price of $88.
02. Patrick Industries, Inc. has a 52 week low of $67.
72 and a 52 week high of $98.90. The firm has a market capitalization of $2.
62 billion, a PE ratio of 18.92, a P/E/G ratio of 1.41 and a beta of 2.
17. Patrick Industries ( NASDAQ:PATK – Get Free Report ) last posted its earnings results on Thursday, February 6th. The construction company reported $0.
52 EPS for the quarter, topping 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%.
As a group, equities research analysts expect that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.
Patrick Industries Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.40 per share.
The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.
05%. Patrick Industries’s dividend payout ratio is currently 38.83%.
Patrick Industries Company Profile ( Free Report ) 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. See Also Five stocks we like better than Patrick Industries Special Purpose Acquisition Company (SPAC) What You Need to Know Can IBM’s Q1 Earnings Spark a Breakout for the Stock? What is a Dividend Harvesting Strategy and How Can Investors Profit from it? S&P 500 and Nasdaq-100 Flashed Death Crosses—Should You Worry? What Are Dividend Achievers? An Introduction Fundamentally Sound, These 5 Stocks Sold Off Anyway Receive News & Ratings for Patrick Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries and related companies with MarketBeat.
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