NBW Capital LLC Has $8.06 Million Stock Position in Patrick Industries, Inc. (NASDAQ:PATK)

NBW Capital LLC decreased its stake in Patrick Industries, Inc. (NASDAQ:PATK) by 4.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,470 shares of the construction company’s stock after selling 3,215 shares during the quarter. Patrick Industries accounts for about 1.6% of NBW Capital LLC’s investment portfolio, making the stock its 20th largest holding. NBW Capital LLC’s holdings in Patrick Industries were worth $8,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Patrick Industries by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,443,213 shares of the construction company’s stock worth $144,828,000 after acquiring an additional 21,735 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Patrick Industries by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 276,870 shares of the construction company’s stock worth $33,078,000 after acquiring an additional 26,389 shares in the last quarter. Norges Bank purchased a new stake in Patrick Industries in the 4th quarter worth about $14,782,000. Anchor Capital Management Company LLC lifted its stake in Patrick Industries by 19.3% in the 1st quarter. Anchor Capital Management Company LLC now owns 123,809 shares of the construction company’s stock worth $14,791,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Patrick Industries by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 107,829 shares of the construction company’s stock worth $12,882,000 after acquiring an additional 1,823 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Truist Financial increased their price objective on Patrick Industries from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. KeyCorp raised their price target on Patrick Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird raised their price target on Patrick Industries from $120.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets raised their price target on Patrick Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $126.00 price target (up from $120.00) on shares of Patrick Industries in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.83.

Patrick Industries Stock Down 3.1 %

Shares of NASDAQ PATK traded down $3.95 during mid-day trading on Friday, reaching $121.86. 265,727 shares of the company traded hands, compared to its average volume of 181,234. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.96 and a current ratio of 2.29. The stock has a market cap of $2.73 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 0.92 and a beta of 1.65. The company’s fifty day moving average is $113.04 and its two-hundred day moving average is $111.20. Patrick Industries, Inc. has a fifty-two week low of $70.15 and a fifty-two week high of $136.00.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.12. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $972.06 million. Patrick Industries had a return on equity of 15.06% and a net margin of 4.26%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 EPS. On average, analysts expect that Patrick Industries, Inc. will post 8.07 earnings per share for the current year.

Patrick Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Monday, June 3rd. Patrick Industries’s dividend payout ratio is 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.