WINTON GROUP Ltd Invests $6.30 Million in Patrick Industries, Inc. (NASDAQ:PATK)

WINTON GROUP Ltd bought a new stake in shares of Patrick Industries, Inc. (NASDAQ:PATK) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 75,824 shares of the construction company’s stock, valued at approximately $6,299,000. WINTON GROUP Ltd owned 0.23% of Patrick Industries as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PATK. Vanguard Group Inc. raised its stake in shares of Patrick Industries by 49.3% during the fourth quarter. Vanguard Group Inc. now owns 2,326,262 shares of the construction company’s stock valued at $193,266,000 after purchasing an additional 768,102 shares during the period. State Street Corp increased its stake in Patrick Industries by 3.5% during the 3rd quarter. State Street Corp now owns 816,031 shares of the construction company’s stock worth $116,178,000 after buying an additional 27,669 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Patrick Industries by 55.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 548,771 shares of the construction company’s stock worth $45,592,000 after buying an additional 195,138 shares in the last quarter. Geode Capital Management LLC boosted its position in Patrick Industries by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 519,440 shares of the construction company’s stock valued at $73,968,000 after buying an additional 20,694 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Patrick Industries by 159.8% during the fourth quarter. American Century Companies Inc. now owns 516,767 shares of the construction company’s stock valued at $42,933,000 after acquiring an additional 317,864 shares in the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PATK has been the subject of a number of analyst reports. Truist Financial increased their price target on Patrick Industries from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday, February 10th. KeyCorp raised their price target on shares of Patrick Industries from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Benchmark increased their price objective on shares of Patrick Industries from $98.00 to $102.00 and gave the company a “buy” rating in a research note 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, Raymond James upped 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Patrick Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.96.

Insider Buying and Selling

In other Patrick Industries news, Director M Scott Welch purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $86.22 per share, with a total value of $862,200.00. Following the completion of the acquisition, the director now owns 136,000 shares in the company, valued at approximately $11,725,920. This represents a 7.94 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stacey L. Neu sold 2,885 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total value of $246,754.05. Following the completion of the transaction, the executive vice president now directly owns 18,044 shares of the company’s stock, 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. Corporate insiders own 4.70% of the company’s stock.

Patrick Industries Price Performance

Shares of NASDAQ:PATK opened at $87.43 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 firm has a 50-day simple moving average of $91.33 and a 200 day simple moving average of $89.86. Patrick Industries, Inc. has a fifty-two week low of $67.72 and a fifty-two week high of $98.90. The company has a market cap of $2.94 billion, a PE ratio of 21.22, a P/E/G ratio of 1.41 and a beta of 2.37.

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, topping analysts’ consensus estimates of $0.50 by $0.02. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. On average, sell-side analysts anticipate that Patrick Industries, Inc. will post 5.33 EPS for the current year.

Patrick Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.83%. Patrick Industries’s dividend payout ratio is currently 38.83%.

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.