Royce & Associates LP grew its position in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,897 shares of the construction company’s stock after purchasing an additional 372 shares during the quarter. Royce & Associates LP’s holdings in Patrick Industries were worth $1,004,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new position in Patrick Industries during the 4th quarter worth approximately $30,000. Quantamental Technologies LLC bought a new position in Patrick Industries during the 4th quarter worth approximately $100,000. Meeder Asset Management Inc. grew its position in Patrick Industries by 980.4% during the 4th quarter. Meeder Asset Management Inc. now owns 4,408 shares of the construction company’s stock worth $131,000 after acquiring an additional 4,000 shares during the last quarter. Bank of Montreal Can grew its position in Patrick Industries by 11.7% during the 4th quarter. Bank of Montreal Can now owns 4,534 shares of the construction company’s stock worth $135,000 after acquiring an additional 474 shares during the last quarter. Finally, Edge Wealth Management LLC grew its position in Patrick Industries by 17,948.7% during the 4th quarter. Edge Wealth Management LLC now owns 7,039 shares of the construction company’s stock worth $208,000 after acquiring an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

In other Patrick Industries news, CEO Todd M. Cleveland acquired 10,000 shares of the stock in a transaction dated Monday, December 17th. The shares were acquired at an average cost of $29.59 per share, for a total transaction of $295,900.00. Following the completion of the transaction, the chief executive officer now directly owns 601,219 shares of the company’s stock, valued at $17,790,070.21. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Walter E. Wells sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $45.34, for a total value of $45,340.00. Following the completion of the transaction, the director now owns 60,030 shares in the company, valued at $2,721,760.20. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Several research firms have weighed in on PATK. TheStreet cut Patrick Industries from a “b-” rating to a “c+” rating in a report on Wednesday, December 12th. Wells Fargo & Co dropped their price objective on Patrick Industries from $67.00 to $30.00 and set a “market perform” rating for the company in a report on Tuesday, December 18th. BidaskClub upgraded Patrick Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 9th. KeyCorp increased their price objective on Patrick Industries from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, February 19th. Finally, ValuEngine upgraded Patrick Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $66.60.

Shares of NASDAQ:PATK opened at $44.80 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 9.63, a P/E/G ratio of 0.64 and a beta of 1.92. Patrick Industries, Inc. has a 12-month low of $27.32 and a 12-month high of $67.50. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.44 and a quick ratio of 0.71.

Patrick Industries (NASDAQ:PATK) last posted its earnings results on Thursday, February 14th. The construction company reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.21. Patrick Industries had a return on equity of 28.26% and a net margin of 5.30%. The business had revenue of $531.00 million during the quarter, compared to analyst estimates of $519.00 million. During the same quarter last year, the company earned $0.87 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Patrick Industries, Inc. will post 4.76 EPS for the current year.

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About Patrick Industries

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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Institutional Ownership by Quarter for Patrick Industries (NASDAQ:PATK)

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