Patrick Industries, Inc. (NASDAQ:PATK) Shares Acquired by Jump Financial LLC

Jump Financial LLC increased its stake in shares of Patrick Industries, Inc. (NASDAQ:PATKFree Report) by 84.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,439 shares of the construction company’s stock after buying an additional 3,412 shares during the quarter. Jump Financial LLC’s holdings in Patrick Industries were worth $558,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Seizert Capital Partners LLC increased its stake in Patrick Industries by 3.1% during the third quarter. Seizert Capital Partners LLC now owns 48,534 shares of the construction company’s stock worth $3,643,000 after acquiring an additional 1,441 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in Patrick Industries during the third quarter worth $971,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Patrick Industries by 21.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,340 shares of the construction company’s stock worth $102,000 after acquiring an additional 238 shares during the last quarter. Carmel Capital Partners LLC acquired a new stake in Patrick Industries during the third quarter worth $44,000. Finally, Advisor Partners II LLC acquired a new stake in Patrick Industries during the third quarter worth $341,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Insiders Place Their Bets

In other Patrick Industries news, CEO Andy L. Nemeth sold 15,000 shares of Patrick Industries stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $87.00, for a total transaction of $1,305,000.00. Following the completion of the sale, the chief executive officer now directly owns 302,013 shares of the company’s stock, valued at approximately $26,275,131. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andy L. Nemeth sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $97.00, for a total value of $1,940,000.00. Following the completion of the sale, the chief executive officer now directly owns 252,013 shares of the company’s stock, valued at approximately $24,445,261. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andy L. Nemeth sold 15,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $87.00, for a total value of $1,305,000.00. Following the completion of the sale, the chief executive officer now directly owns 302,013 shares of the company’s stock, valued at $26,275,131. The disclosure for this sale can be found here. Insiders sold 85,500 shares of company stock valued at $7,762,805 in the last ninety days. Insiders own 6.80% of the company’s stock.

Patrick Industries Trading Up 4.5 %

PATK opened at $110.16 on Friday. Patrick Industries, Inc. has a 12 month low of $63.57 and a 12 month high of $112.11. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 16.25 and a beta of 1.71. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.42 and a quick ratio of 0.87. The business has a fifty day moving average price of $97.44 and a 200 day moving average price of $85.61.

Patrick Industries (NASDAQ:PATKGet Free Report) last released its earnings results on Thursday, February 8th. The construction company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.39 by $0.10. The firm had revenue of $781.20 million during the quarter, compared to analysts’ expectations of $780.97 million. Patrick Industries had a return on equity of 15.75% and a net margin of 4.18%. Patrick Industries’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. Sell-side analysts expect that Patrick Industries, Inc. will post 6.49 earnings per share for the current fiscal year.

Patrick Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, February 16th. Patrick Industries’s dividend payout ratio (DPR) is 32.45%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PATK shares. StockNews.com cut Patrick Industries from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. BMO Capital Markets started coverage on Patrick Industries in a research note on Thursday, December 7th. They issued an “outperform” rating and a $105.00 price objective for the company. Roth Mkm lifted their price objective on Patrick Industries from $101.00 to $120.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial lifted their price objective on Patrick Industries from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, KeyCorp lifted their price objective on Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Patrick Industries currently has an average rating of “Moderate Buy” and an average price target of $102.29.

Get Our Latest Report on Patrick Industries

Patrick Industries Company Profile

(Free Report)

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, 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.

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Institutional Ownership by Quarter for Patrick Industries (NASDAQ:PATK)

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