Zebra Capital Management LLC raised its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 27.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,535 shares of the construction company’s stock after acquiring an additional 3,594 shares during the period. Zebra Capital Management LLC’s holdings in Patrick Industries were worth $940,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in shares of Patrick Industries in the 2nd quarter worth $117,000. Edge Wealth Management LLC grew its holdings in shares of Patrick Industries by 7,692.3% in the 2nd quarter. Edge Wealth Management LLC now owns 3,039 shares of the construction company’s stock worth $173,000 after acquiring an additional 3,000 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Patrick Industries by 124.5% in the 1st quarter. Sei Investments Co. now owns 3,374 shares of the construction company’s stock worth $209,000 after acquiring an additional 1,871 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of Patrick Industries in the 1st quarter worth $214,000. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Patrick Industries by 29.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 4,008 shares of the construction company’s stock worth $248,000 after acquiring an additional 900 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on PATK. BidaskClub downgraded Patrick Industries from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. Zacks Investment Research downgraded Patrick Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th. Finally, ValuEngine upgraded Patrick Industries from a “hold” rating to a “buy” rating in a report on Tuesday, May 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.20.
Shares of PATK stock opened at $65.90 on Friday. Patrick Industries, Inc. has a 1-year low of $49.23 and a 1-year high of $72.35. The company has a current ratio of 2.23, a quick ratio of 0.87 and a debt-to-equity ratio of 1.43. The firm has a market cap of $1.58 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.84.
Patrick Industries (NASDAQ:PATK) last released its quarterly earnings data on Thursday, July 26th. The construction company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. The firm had revenue of $604.88 million during the quarter, compared to analysts’ expectations of $553.60 million. Patrick Industries had a return on equity of 27.49% and a net margin of 5.49%. The business’s revenue for the quarter was up 48.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 earnings per share. equities research analysts anticipate that Patrick Industries, Inc. will post 4.75 EPS for the current year.
Patrick Industries Company Profile
Patrick Industries, Inc manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, walls, countertops, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication products; RV paintings; fabricated aluminum products; fiberglass and plastic components; softwoods lumber; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument and dash panels, and other products.
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