James Investment Research Inc. Acquires 5,175 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

James Investment Research Inc. lifted its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,529 shares of the construction company’s stock after purchasing an additional 5,175 shares during the quarter. James Investment Research Inc.’s holdings in Patrick Industries were worth $1,290,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Creative Planning acquired a new position in shares of Patrick Industries during the third quarter worth $337,000. nVerses Capital LLC acquired a new position in shares of Patrick Industries during the third quarter valued at about $157,000. Inspire Advisors LLC grew its holdings in shares of Patrick Industries by 12.5% during the third quarter. Inspire Advisors LLC now owns 4,463 shares of the construction company’s stock valued at $635,000 after buying an additional 497 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Patrick Industries by 35.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 97,414 shares of the construction company’s stock valued at $13,869,000 after buying an additional 25,556 shares during the last quarter. Finally, Copeland Capital Management LLC purchased a new position in Patrick Industries during the third quarter worth about $8,070,000. Institutional investors and hedge funds own 93.29% of the company’s stock.

Patrick Industries Trading Up 1.2 %

Shares of PATK opened at $95.76 on Tuesday. The stock has a market capitalization of $3.22 billion, a P/E ratio of 23.24, a PEG ratio of 1.42 and a beta of 2.26. The company has a quick ratio of 0.97, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The firm has a fifty day simple moving average of $89.65 and a two-hundred day simple moving average of $89.06. Patrick Industries, Inc. has a twelve month low of $67.72 and a twelve month high of $98.90.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings results on Thursday, February 6th. The construction company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. Patrick Industries had a net margin of 3.72% and a return on equity of 13.25%. On average, research analysts anticipate that Patrick Industries, Inc. will post 5.38 EPS for the current year.

Patrick Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.60 annualized dividend and a yield of 1.67%. Patrick Industries’s dividend payout ratio (DPR) is presently 38.83%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PATK shares. Raymond James boosted their target price on shares of Patrick Industries from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BMO Capital Markets upped their target price on shares of Patrick Industries from $100.00 to $103.33 and gave the stock an “outperform” rating in a report on Friday, November 1st. KeyCorp upped their target price on shares of Patrick Industries from $100.00 to $110.00 and gave the stock an “overweight” rating in a 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. Finally, Benchmark increased their price target on shares of Patrick Industries from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Patrick Industries presently has an average rating of “Moderate Buy” and an average target price of $97.96.

Insiders Place Their Bets

In other Patrick Industries news, CEO Andy L. Nemeth sold 15,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $93.76, for a total value of $1,406,400.00. Following the completion of the transaction, the chief executive officer now directly owns 364,678 shares in the company, valued at approximately $34,192,209.28. This represents a 3.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.70% of the company’s stock.

About Patrick Industries

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.