Teachers Retirement System of The State of Kentucky lifted its holdings in Patrick Industries, Inc. (NASDAQ:PATK – Get Rating) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,526 shares of the construction company’s stock after buying an additional 682 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.14% of Patrick Industries worth $1,962,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of Patrick Industries in the 4th quarter worth about $98,000. Byrne Asset Management LLC bought a new position in Patrick Industries during the 4th quarter valued at about $111,000. Captrust Financial Advisors grew its holdings in Patrick Industries by 80.2% during the 1st quarter. Captrust Financial Advisors now owns 1,656 shares of the construction company’s stock valued at $100,000 after purchasing an additional 737 shares during the last quarter. Optimum Investment Advisors grew its holdings in Patrick Industries by 100.0% during the 4th quarter. Optimum Investment Advisors now owns 1,750 shares of the construction company’s stock valued at $141,000 after purchasing an additional 875 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Patrick Industries by 18.6% during the 1st quarter. US Bancorp DE now owns 2,024 shares of the construction company’s stock valued at $122,000 after purchasing an additional 317 shares during the last quarter. 89.86% of the stock is currently owned by institutional investors.
Insider Transactions at Patrick Industries
In other news, Chairman Todd M. Cleveland sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $63.42, for a total value of $1,268,400.00. Following the completion of the sale, the chairman now owns 131,737 shares of the company’s stock, valued at approximately $8,354,760.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.10% of the company’s stock.
Analyst Upgrades and Downgrades
Patrick Industries Price Performance
Patrick Industries stock opened at $46.79 on Wednesday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 3.25, a price-to-earnings-growth ratio of 0.41 and a beta of 1.95. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.58 and a quick ratio of 1.02. Patrick Industries, Inc. has a 1 year low of $45.76 and a 1 year high of $88.79. The firm has a 50-day moving average of $56.10 and a two-hundred day moving average of $58.72.
Patrick Industries (NASDAQ:PATK – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The construction company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.42 by $1.89. Patrick Industries had a net margin of 6.92% and a return on equity of 45.44%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.23 billion. On average, research analysts forecast that Patrick Industries, Inc. will post 13.59 earnings per share for the current year.
Patrick Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 29th were given a $0.33 dividend. The ex-dividend date was Friday, August 26th. This represents a $1.32 annualized dividend and a dividend yield of 2.82%. Patrick Industries’s payout ratio is presently 9.17%.
Patrick Industries Profile
Patrick Industries, Inc manufactures and distributes components, building products, and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, China, and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, wall, countertop, and cabinet product; cabinet door, fiberglass bath fixture, and tile system; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum product; fiberglass and plastic components; RV painting; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinet; polymer-based flooring product; dash panels; and other products.
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