61,982 Shares in Patrick Industries, Inc. $PATK Purchased by De Lisle Partners LLP

De Lisle Partners LLP purchased a new stake in Patrick Industries, Inc. (NASDAQ:PATK) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 61,982 shares of the construction company’s stock, valued at approximately $5,561,000.

Other institutional investors also recently bought and sold shares of the company. Persistent Asset Partners Ltd purchased a new stake in Patrick Industries during the 2nd quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Patrick Industries in the third quarter worth approximately $25,000. Torren Management LLC acquired a new stake in shares of Patrick Industries in the fourth quarter worth approximately $26,000. Allworth Financial LP increased its position in shares of Patrick Industries by 181.2% during the fourth quarter. Allworth Financial LP now owns 315 shares of the construction company’s stock worth $34,000 after purchasing an additional 203 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Patrick Industries by 200.9% during the fourth quarter. Farther Finance Advisors LLC now owns 343 shares of the construction company’s stock worth $37,000 after purchasing an additional 229 shares in the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Patrick Industries Stock Performance

Shares of Patrick Industries stock opened at $83.41 on Friday. The business’s 50 day moving average price is $86.42 and its 200 day moving average price is $101.52. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 19.77 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.96 and a current ratio of 2.67. Patrick Industries, Inc. has a one year low of $81.29 and a one year high of $148.50.

Patrick Industries (NASDAQ:PATK) last issued its earnings results on Thursday, July 30th. The construction company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. Patrick Industries had a return on equity of 12.69% and a net margin of 3.74%.The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $994.95 million. During the same period in the prior year, the business earned $1.50 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts predict that Patrick Industries, Inc. will post 4.26 EPS for the current year.

Patrick Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.3%. Patrick Industries’s dividend payout ratio is currently 44.55%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial set a $108.00 price objective on Patrick Industries and gave the company a “buy” rating in a report on Monday, August 10th. Roth Capital set a $114.00 target price on shares of Patrick Industries in a research report on Friday, July 31st. Robert W. Baird set a $110.00 price target on shares of Patrick Industries in a research note on Friday, May 1st. Raymond James Financial reissued an “outperform” rating and issued a $94.00 price target on shares of Patrick Industries in a research note on Friday, July 31st. Finally, Zacks Research lowered shares of Patrick Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Patrick Industries has an average rating of “Moderate Buy” and a consensus target price of $113.12.

Patrick Industries Company Profile

Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.

Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.