Oregon Public Employees Retirement Fund Has $654,000 Stake in Patrick Industries, Inc. (NASDAQ:PATK)

Oregon Public Employees Retirement Fund lifted its position in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,877 shares of the construction company’s stock after acquiring an additional 2,626 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Patrick Industries were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PATK. Creative Planning acquired a new stake in shares of Patrick Industries during the 3rd quarter valued at $337,000. State of Alaska Department of Revenue boosted its holdings in shares of Patrick Industries by 3.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,783 shares of the construction company’s stock valued at $1,819,000 after acquiring an additional 419 shares in the last quarter. F M Investments LLC acquired a new stake in shares of Patrick Industries during the 3rd quarter valued at $323,000. Janney Montgomery Scott LLC boosted its holdings in shares of Patrick Industries by 2.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 20,137 shares of the construction company’s stock valued at $2,867,000 after acquiring an additional 451 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Patrick Industries by 2.1% during the 3rd quarter. Amalgamated Bank now owns 6,573 shares of the construction company’s stock valued at $936,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Patrick Industries Stock Performance

PATK stock opened at $90.60 on Monday. The stock has a 50-day moving average price of $90.46 and a 200-day moving average price of $89.78. Patrick Industries, Inc. has a 1-year low of $67.72 and a 1-year high of $98.90. The company has a current ratio of 2.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.16. The firm has a market cap of $3.05 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.41 and a beta of 2.26.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, February 6th. The construction company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. As a group, equities research analysts expect that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

Patrick Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.77%. Patrick Industries’s dividend payout ratio is presently 38.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com downgraded Patrick Industries from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Truist Financial raised their target price on Patrick Industries from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Benchmark raised 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. KeyCorp raised their target price on Patrick Industries from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Raymond James raised their target price 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, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Patrick Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.96.

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.