F M Investments LLC Has $3.22 Million Position in Patrick Industries, Inc. (NASDAQ:PATK)

F M Investments LLC increased its holdings in Patrick Industries, Inc. (NASDAQ:PATK) by 1,607.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,712 shares of the construction company’s stock after purchasing an additional 36,445 shares during the period. F M Investments LLC owned approximately 0.12% of Patrick Industries worth $3,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PATK. Quadrant Capital Group LLC raised its holdings in shares of Patrick Industries by 49.8% in the 4th quarter. Quadrant Capital Group LLC now owns 328 shares of the construction company’s stock worth $27,000 after buying an additional 109 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Patrick Industries by 49.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344 shares of the construction company’s stock valued at $29,000 after acquiring an additional 114 shares during the period. UMB Bank n.a. raised its stake in Patrick Industries by 35.1% during the fourth quarter. UMB Bank n.a. now owns 766 shares of the construction company’s stock worth $64,000 after acquiring an additional 199 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Patrick Industries by 44.8% during the fourth quarter. Global Retirement Partners LLC now owns 643 shares of the construction company’s stock valued at $53,000 after acquiring an additional 199 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Patrick Industries by 35.8% in the 4th quarter. IFP Advisors Inc now owns 1,044 shares of the construction company’s stock valued at $87,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.

Insiders Place Their Bets

In other Patrick Industries news, EVP Stacey L. Neu sold 2,885 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $85.53, for a total value of $246,754.05. Following the sale, the executive vice president now directly owns 18,044 shares in the company, valued at approximately $1,543,303.32. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director M Scott Welch purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $84.62 per share, with a total value of $211,550.00. Following the acquisition, the director now directly owns 2,961 shares in the company, valued at $250,559.82. This trade represents a 542.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.70% of the company’s stock.

Patrick Industries Stock Performance

Patrick Industries stock opened at $80.20 on Friday. The company has a market cap of $2.69 billion, a PE ratio of 19.46, a PEG ratio of 1.41 and a beta of 2.17. The company has a current ratio of 2.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.16. Patrick Industries, Inc. has a 1 year low of $67.72 and a 1 year high of $98.90. The company’s 50-day moving average is $87.75 and its two-hundred day moving average is $88.96.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, February 6th. The construction company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Patrick Industries had a net margin of 3.72% and a return on equity of 13.25%. Equities analysts anticipate that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

Patrick Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.00%. The ex-dividend date was Tuesday, February 18th. Patrick Industries’s payout ratio is 38.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PATK. Raymond James increased their target price on shares of Patrick Industries from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. KeyCorp boosted their target price on Patrick Industries from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Baird R W cut Patrick Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Benchmark boosted their price objective on Patrick Industries from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Robert W. Baird restated a “neutral” rating and issued a $96.00 target price (down from $100.00) on shares of Patrick Industries in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

Patrick Industries 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.