Kennedy Capital Management LLC Has $25.91 Million Holdings in Patrick Industries, Inc. $PATK

Kennedy Capital Management LLC grew its position in Patrick Industries, Inc. (NASDAQ:PATK) by 14.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,981 shares of the construction company’s stock after purchasing an additional 29,714 shares during the period. Patrick Industries comprises about 0.5% of Kennedy Capital Management LLC’s holdings, making the stock its 25th largest position. Kennedy Capital Management LLC’s holdings in Patrick Industries were worth $25,913,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in Patrick Industries in the 3rd quarter worth about $25,000. Torren Management LLC acquired a new position in Patrick Industries in the 4th quarter worth about $26,000. Allworth Financial LP increased its position in Patrick Industries by 181.3% in the 4th quarter. Allworth Financial LP now owns 315 shares of the construction company’s stock worth $34,000 after purchasing an additional 203 shares during the last quarter. Farther Finance Advisors LLC increased its position in Patrick Industries by 200.9% in the 4th quarter. Farther Finance Advisors LLC now owns 343 shares of the construction company’s stock worth $37,000 after purchasing an additional 229 shares during the last quarter. Finally, Strs Ohio acquired a new position in Patrick Industries in the 1st quarter worth about $42,000. 93.29% of the stock is owned by institutional investors and hedge funds.

Patrick Industries Stock Performance

PATK opened at $86.70 on Friday. The company has a market cap of $2.85 billion, a PE ratio of 22.23 and a beta of 1.09. The stock has a 50-day moving average of $97.14 and a 200-day moving average of $111.72. Patrick Industries, Inc. has a 52-week low of $82.35 and a 52-week high of $148.50. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.04 and a current ratio of 2.71.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. The company had revenue of $997.17 million during the quarter, compared to the consensus estimate of $989.06 million. Patrick Industries had a return on equity of 13.24% and a net margin of 3.46%.The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 EPS. As a group, equities research analysts forecast that Patrick Industries, Inc. will post 4.94 earnings per share for the current fiscal year.

Patrick Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Tuesday, May 26th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.2%. Patrick Industries’s dividend payout ratio is presently 48.21%.

Insider Activity

In other Patrick Industries news, CFO Matthew S. Filer bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of $85.50 per share, for a total transaction of $85,500.00. Following the purchase, the chief financial officer directly owned 21,614 shares in the company, valued at $1,847,997. This trade represents a 4.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Blake Augsburger bought 400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $85.19 per share, with a total value of $34,076.00. Following the purchase, the director owned 2,125 shares in the company, valued at $181,028.75. This trade represents a 23.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 27,400 shares of company stock worth $2,408,639 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

PATK has been the topic of several research reports. Zacks Research lowered Patrick Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Roth Mkm set a $128.00 target price on Patrick Industries in a research report on Tuesday, May 5th. Robert W. Baird set a $110.00 price target on Patrick Industries in a research note on Friday, May 1st. Weiss Ratings downgraded Patrick Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $150.00 price target (down from $155.00) on shares of Patrick Industries in a research note on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.63.

Patrick Industries 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.