Bokf Na Grows Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

Bokf Na raised its position in Patrick Industries, Inc. (NASDAQ:PATK) by 56.4% during the first quarter, Holdings Channel.com reports. The firm owned 4,676 shares of the construction company’s stock after buying an additional 1,686 shares during the period. Bokf Na’s holdings in Patrick Industries were worth $554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PATK. GAMMA Investing LLC purchased a new position in Patrick Industries in the 4th quarter valued at about $35,000. Xponance Inc. purchased a new position in Patrick Industries in the 4th quarter valued at about $203,000. Heritage Wealth Management LLC purchased a new position in Patrick Industries in the 4th quarter valued at about $238,000. Everence Capital Management Inc. acquired a new position in shares of Patrick Industries during the 4th quarter valued at about $243,000. Finally, BTC Capital Management Inc. acquired a new position in shares of Patrick Industries during the 1st quarter valued at about $303,000. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PATK. Truist Financial reaffirmed a “buy” rating and set a $130.00 price objective on shares of Patrick Industries in a research note on Friday, April 12th. Roth Mkm reissued a “buy” rating and set a $126.00 target price (up previously from $120.00) on shares of Patrick Industries in a research report on Monday, May 6th. Finally, BMO Capital Markets increased their target price on shares of Patrick Industries from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Patrick Industries presently has an average rating of “Hold” and a consensus target price of $108.67.

Patrick Industries Stock Up 0.0 %

Shares of Patrick Industries stock traded up $0.02 on Monday, hitting $126.02. 13,508 shares of the company’s stock traded hands, compared to its average volume of 177,571. The stock has a market cap of $2.82 billion, a P/E ratio of 18.67, a PEG ratio of 0.92 and a beta of 1.66. The company has a quick ratio of 0.96, a current ratio of 2.38 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average is $111.63 and its 200 day moving average is $110.30. Patrick Industries, Inc. has a 52-week low of $70.15 and a 52-week high of $127.21.

Patrick Industries (NASDAQ:PATK) last released its earnings results on Thursday, May 2nd. The construction company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.32 by $0.47. Patrick Industries had a return on equity of 14.90% and a net margin of 4.22%. The company had revenue of $933.50 million during the quarter, compared to analysts’ expectations of $829.22 million. During the same period in the prior year, the business posted $1.35 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Equities analysts anticipate that Patrick Industries, Inc. will post 8.07 earnings per share for the current year.

Patrick Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.75%. The ex-dividend date was Monday, June 3rd. Patrick Industries’s dividend payout ratio (DPR) is presently 32.59%.

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.