1 week Ago By ABMN Staff
Norges Bank bought a new stake in Patrick Industries, Inc. ( NASDAQ:PATK – Free Report ) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 90,013 shares of the construction company’s stock, valued at approximately $7,478,000.
Norges Bank owned about 0.27% of Patrick Industries as of its most recent filing with the Securities & Exchange Commission. Several other hedge funds and other institutional investors also recently modified their holdings of PATK.
Vanguard Group Inc. lifted its position in Patrick Industries by 49.3% in the 4th quarter.
Vanguard Group Inc. now owns 2,326,262 shares of the construction company’s stock valued at $193,266,000 after purchasing an additional 768,102 shares during the last quarter. State Street Corp raised its holdings in shares of Patrick Industries by 3.
5% during the third quarter. State Street Corp now owns 816,031 shares of the construction company’s stock valued at $116,178,000 after buying an additional 27,669 shares during the last quarter. Charles Schwab Investment Management Inc.
boosted its position in shares of Patrick Industries by 55.2% during the fourth quarter. Charles Schwab Investment Management Inc.
now owns 548,771 shares of the construction company’s stock worth $45,592,000 after buying an additional 195,138 shares during the period. Geode Capital Management LLC grew its holdings in Patrick Industries by 4.1% in the 3rd quarter.
Geode Capital Management LLC now owns 519,440 shares of the construction company’s stock worth $73,968,000 after buying an additional 20,694 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Patrick Industries by 159.
8% in the 4th quarter. American Century Companies Inc. now owns 516,767 shares of the construction company’s stock valued at $42,933,000 after acquiring an additional 317,864 shares during the period.
Institutional investors and hedge funds own 93.29% of the company’s stock. Patrick Industries Stock Performance PATK opened at $74.
33 on Wednesday. The business has a fifty day simple moving average of $88.70 and a 200-day simple moving average of $89.
22. The firm has a market cap of $2.49 billion, a PE ratio of 18.
04, a P/E/G ratio of 1.41 and a beta of 2.17.
The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.
16. Patrick Industries, Inc. has a fifty-two week low of $67.
72 and a fifty-two week high of $98.90. Patrick Industries Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd.
Investors of record on Tuesday, February 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, February 18th.
This represents a $1.60 annualized dividend and a dividend yield of 2.15%.
Patrick Industries’s dividend payout ratio (DPR) is presently 38.83%. Analyst Upgrades and Downgrades A number of brokerages have issued reports on PATK.
Raymond James boosted their price target on Patrick Industries from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th.
Benchmark increased their target price on shares of Patrick Industries from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Friday, February 7th.
KeyCorp raised their target price on shares of Patrick Industries from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 7th.
Baird R W lowered shares of Patrick Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, StockNews.com lowered shares of Patrick Industries from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th.
One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.
View Our Latest Analysis on PATK Insider Buying and Selling In other news, EVP Stacey L. Neu sold 2,885 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $85.
53, for a total value of $246,754.05. Following the completion of the sale, the executive vice president now owns 18,044 shares of the company’s stock, valued at $1,543,303.
32. This trade represents a 13.78 % decrease in their ownership of the stock.
The sale was disclosed in a filing with the SEC, which is available at this link . Also, Director M Scott Welch purchased 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $86.
22 per share, for a total transaction of $862,200.00. Following the acquisition, the director now directly owns 136,000 shares of the company’s stock, valued at $11,725,920.
This represents a 7.94 % increase in their position. The disclosure for this purchase can be found here .
Company insiders own 4.70% of the company’s stock. About Patrick Industries ( Free Report ) 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. Further Reading Receive News & Ratings for Patrick Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries and related companies with MarketBeat.com's FREE daily email newsletter .
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