Patrick Industries, Inc. (NASDAQ:PATK) Shares Acquired by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. grew its holdings in Patrick Industries, Inc. (NASDAQ:PATK) by 82.1% during the 4th quarter, Holdings Channel reports. The fund owned 25,545 shares of the construction company’s stock after purchasing an additional 11,515 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Patrick Industries were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in Patrick Industries during the fourth quarter valued at $25,000. Smartleaf Asset Management LLC raised its stake in shares of Patrick Industries by 812.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company’s stock valued at $49,000 after buying an additional 528 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Patrick Industries in the 4th quarter valued at about $53,000. Global Retirement Partners LLC boosted its stake in shares of Patrick Industries by 44.8% in the fourth quarter. Global Retirement Partners LLC now owns 643 shares of the construction company’s stock worth $53,000 after buying an additional 199 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Patrick Industries by 61.2% during the fourth quarter. GAMMA Investing LLC now owns 764 shares of the construction company’s stock worth $63,000 after acquiring an additional 290 shares during the period. Institutional investors and hedge funds own 93.29% of the company’s stock.

Patrick Industries Stock Up 1.0 %

Shares of NASDAQ PATK opened at $87.51 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.41 and a beta of 2.26. The company’s 50-day simple moving average is $90.74 and its 200-day simple moving average is $89.82. 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 52-week low of $45.15 and a 52-week high of $98.60.

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

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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, February 18th. Patrick Industries’s payout ratio is 38.83%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Raymond James boosted their price target on Patrick Industries from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, February 7th. KeyCorp boosted 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. StockNews.com lowered shares of Patrick Industries from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Truist Financial lifted their price objective on shares of Patrick Industries from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Benchmark increased their target price on shares of Patrick Industries from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Patrick Industries presently has an average rating of “Moderate Buy” and an average price target of $97.96.

About Patrick Industries

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.