Bokf Na Boosts Stock Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

Bokf Na lifted its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 56.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,676 shares of the construction company’s stock after purchasing an additional 1,686 shares during the period. Bokf Na’s holdings in Patrick Industries were worth $554,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Patrick Industries during the fourth quarter worth about $35,000. Xponance Inc. purchased a new position in shares of Patrick Industries during the fourth quarter worth about $203,000. Heritage Wealth Management LLC purchased a new stake in shares of Patrick Industries during the fourth quarter valued at approximately $238,000. Everence Capital Management Inc. purchased a new stake in shares of Patrick Industries during the fourth quarter valued at approximately $243,000. Finally, BTC Capital Management Inc. bought a new position in shares of Patrick Industries during the first quarter valued at approximately $303,000. 93.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PATK. Truist Financial restated a “buy” rating and set a $130.00 target price on shares of Patrick Industries in a report on Friday, April 12th. BMO Capital Markets increased their target price on Patrick Industries from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $126.00 price objective (up from $120.00) on shares of Patrick Industries in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $108.67.

Patrick Industries Trading Up 0.0 %

Shares of Patrick Industries stock traded up $0.02 on Monday, reaching $126.02. The company had a trading volume of 13,508 shares, compared to its average volume of 177,571. The firm’s 50-day moving average price is $111.63 and its two-hundred day moving average price is $110.30. Patrick Industries, Inc. has a 1 year low of $70.15 and a 1 year high of $127.21. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.38 and a quick ratio of 0.96. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 0.92 and a beta of 1.66.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.32 by $0.47. Patrick Industries had a net margin of 4.22% and a return on equity of 14.90%. The business had revenue of $933.50 million during the quarter, compared to analyst estimates of $829.22 million. During the same quarter in the previous year, the business posted $1.35 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Patrick Industries, Inc. will post 8.07 earnings per share for the current fiscal year.

Patrick Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Monday, June 3rd. Patrick Industries’s dividend payout ratio (DPR) is currently 32.59%.

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.