Shaker Investments LLC OH boosted its stake in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 11.6% during the second quarter, Holdings Channel reports. The firm owned 19,240 shares of the construction company’s stock after buying an additional 2,000 shares during the period. Shaker Investments LLC OH’s holdings in Patrick Industries were worth $1,402,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PATK. Essex Investment Management Co. LLC boosted its position in Patrick Industries by 41.6% in the second quarter. Essex Investment Management Co. LLC now owns 33,693 shares of the construction company’s stock valued at $2,455,000 after buying an additional 9,896 shares during the period. Texas Permanent School Fund boosted its position in Patrick Industries by 0.6% in the second quarter. Texas Permanent School Fund now owns 11,624 shares of the construction company’s stock valued at $847,000 after buying an additional 71 shares during the period. Supplemental Annuity Collective Trust of NJ boosted its position in Patrick Industries by 20.0% in the second quarter. Supplemental Annuity Collective Trust of NJ now owns 12,000 shares of the construction company’s stock valued at $874,000 after buying an additional 2,000 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Patrick Industries by 8.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 400,000 shares of the construction company’s stock valued at $29,140,000 after buying an additional 30,000 shares during the period. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in Patrick Industries during the second quarter valued at approximately $437,000. 90.97% of the stock is owned by hedge funds and other institutional investors.

Shares of Patrick Industries, Inc. (NASDAQ PATK) opened at 73.35 on Monday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 17.93 and a beta of 0.92. The stock has a 50 day moving average price of $74.73 and a 200 day moving average price of $73.45. Patrick Industries, Inc. has a 1-year low of $50.80 and a 1-year high of $86.10.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Patrick Industries had a net margin of 4.66% and a return on equity of 26.46%. The company had revenue of $407.20 million during the quarter, compared to the consensus estimate of $384.54 million. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. Analysts forecast that Patrick Industries, Inc. will post $4.34 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/07/shaker-investments-llc-oh-purchases-2000-shares-of-patrick-industries-inc-patk.html.

Several equities research analysts have recently weighed in on the company. BidaskClub lowered Patrick Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Wells Fargo & Company reiterated a “market perform” rating and issued a $75.00 price objective (up from $72.00) on shares of Patrick Industries in a research note on Monday, June 19th. Zacks Investment Research upgraded Patrick Industries from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Tuesday, May 23rd. Robert W. Baird assumed coverage on Patrick Industries in a research note on Friday, April 21st. They issued an “outperform” rating and a $74.00 price objective on the stock. Finally, Bank of America Corporation assumed coverage on Patrick Industries in a research note on Monday, April 17th. They issued a “buy” rating and a $80.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Patrick Industries currently has an average rating of “Buy” and an average price target of $76.00.

In other Patrick Industries news, Director M Scott Welch purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was bought at an average cost of $66.50 per share, for a total transaction of $332,500.00. Following the completion of the transaction, the director now owns 24,908 shares in the company, valued at $1,656,382. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.20% of the stock is currently owned by insiders.

Patrick Industries Company Profile

Patrick Industries, Inc is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industrial markets for customers throughout the United States and Canada. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets.

Want to see what other hedge funds are holding PATK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Patrick Industries, Inc. (NASDAQ:PATK).

Institutional Ownership by Quarter for Patrick Industries (NASDAQ:PATK)

Receive News & Ratings for Patrick Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.