Patrick Industries (NASDAQ:PATK) EVP Stacey Amundson Sells 3,903 Shares

Patrick Industries, Inc. (NASDAQ:PATK) EVP Stacey Amundson sold 3,903 shares of Patrick Industries stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $145.61, for a total transaction of $568,315.83. Following the sale, the executive vice president owned 12,819 shares of the company’s stock, valued at approximately $1,866,574.59. This represents a 23.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Patrick Industries Stock Performance

Shares of PATK stock opened at $143.10 on Friday. The firm’s 50 day moving average price is $121.92 and its 200-day moving average price is $111.03. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.80 and a current ratio of 2.51. Patrick Industries, Inc. has a one year low of $72.99 and a one year high of $148.50. The firm has a market cap of $4.76 billion, a P/E ratio of 36.60, a P/E/G ratio of 1.49 and a beta of 1.34.

Patrick Industries (NASDAQ:PATK) last posted its earnings results on Thursday, February 5th. The construction company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.10. Patrick Industries had a net margin of 3.42% and a return on equity of 13.28%. The firm had revenue of $924.17 million during the quarter, compared to the consensus estimate of $858.62 million. During the same quarter last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities research analysts predict that Patrick Industries, Inc. will post 5.33 EPS for the current year.

Patrick Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, February 23rd. Patrick Industries’s dividend payout ratio (DPR) is 48.08%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PATK. SG Americas Securities LLC boosted its holdings in shares of Patrick Industries by 12,134.2% in the fourth quarter. SG Americas Securities LLC now owns 259,365 shares of the construction company’s stock valued at $28,123,000 after acquiring an additional 257,245 shares during the period. Capital Research Global Investors raised its position in Patrick Industries by 24.4% in the 4th quarter. Capital Research Global Investors now owns 1,137,530 shares of the construction company’s stock valued at $123,342,000 after purchasing an additional 223,014 shares during the last quarter. American Century Companies Inc. boosted its stake in Patrick Industries by 33.8% during the 2nd quarter. American Century Companies Inc. now owns 712,383 shares of the construction company’s stock worth $65,732,000 after purchasing an additional 180,092 shares during the period. Bessemer Group Inc. grew its holdings in shares of Patrick Industries by 3,602.4% during the fourth quarter. Bessemer Group Inc. now owns 149,912 shares of the construction company’s stock worth $16,255,000 after buying an additional 145,863 shares during the last quarter. Finally, Tributary Capital Management LLC raised its stake in Patrick Industries by 52.0% during the 3rd quarter. Tributary Capital Management LLC now owns 371,608 shares of the construction company’s stock valued at $38,435,000 after acquiring an additional 127,099 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Patrick Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Robert W. Baird set a $140.00 price objective on Patrick Industries in a research note on Friday, February 6th. Roth Mkm reissued a “buy” rating and set a $157.00 price objective on shares of Patrick Industries in a research report on Monday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Patrick Industries in a report on Friday, February 6th. Finally, KeyCorp reiterated an “overweight” rating and set a $155.00 price target (up previously from $135.00) on shares of Patrick Industries in a report on Friday, February 6th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Patrick Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.13.

Patrick Industries Company Profile

Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.

Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.