NBW Capital LLC Grows Stake in Patrick Industries, Inc. (NASDAQ:PATK)

NBW Capital LLC boosted its position in Patrick Industries, Inc. (NASDAQ:PATK) by 48.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 107,192 shares of the construction company’s stock after buying an additional 34,884 shares during the period. Patrick Industries accounts for about 1.7% of NBW Capital LLC’s holdings, making the stock its 20th largest holding. NBW Capital LLC’s holdings in Patrick Industries were worth $8,906,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in Patrick Industries in the 4th quarter valued at approximately $25,000. Smartleaf Asset Management LLC increased its stake in Patrick Industries by 812.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company’s stock valued at $49,000 after purchasing an additional 528 shares in the last quarter. Quent Capital LLC purchased a new position in Patrick Industries in the 4th quarter valued at approximately $53,000. Global Retirement Partners LLC grew its holdings in Patrick Industries by 44.8% during the 4th quarter. Global Retirement Partners LLC now owns 643 shares of the construction company’s stock valued at $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 4th quarter. GAMMA Investing LLC now owns 764 shares of the construction company’s stock valued at $63,000 after buying an additional 290 shares during the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Patrick Industries Price Performance

PATK stock opened at $90.06 on Tuesday. Patrick Industries, Inc. has a 52-week low of $67.72 and a 52-week high of $98.90. The stock’s fifty day simple moving average is $90.46 and its 200-day simple moving average is $89.78. The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.41 and a beta of 2.26.

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 research analysts expect 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 was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, February 18th. Patrick Industries’s dividend payout ratio (DPR) is currently 38.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PATK shares. Raymond James increased their target price on Patrick Industries from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, February 7th. StockNews.com cut Patrick Industries from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Benchmark increased their target price on Patrick Industries from $98.00 to $102.00 and gave the company a “buy” rating in a report on Friday, February 7th. Truist Financial increased their target price on Patrick Industries from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, KeyCorp increased their target price on Patrick Industries from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.