Inspire Advisors LLC Has $201,000 Stake in Patrick Industries, Inc. (NASDAQ:PATK)

Inspire Advisors LLC decreased its position in Patrick Industries, Inc. (NASDAQ:PATK) by 45.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,421 shares of the construction company’s stock after selling 2,042 shares during the period. Inspire Advisors LLC’s holdings in Patrick Industries were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PATK. Copeland Capital Management LLC boosted its stake in Patrick Industries by 536.5% in the 4th quarter. Copeland Capital Management LLC now owns 360,804 shares of the construction company’s stock worth $29,976,000 after purchasing an additional 304,119 shares during the period. Raymond James Financial Inc. purchased a new stake in Patrick Industries in the 4th quarter worth approximately $16,983,000. Charles Schwab Investment Management Inc. lifted its position in Patrick Industries by 55.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 548,771 shares of the construction company’s stock worth $45,592,000 after buying an additional 195,138 shares in the last quarter. Brightline Capital Management LLC purchased a new stake in Patrick Industries in the 3rd quarter worth approximately $14,806,000. Finally, Tributary Capital Management LLC lifted its position in Patrick Industries by 49.8% in the 4th quarter. Tributary Capital Management LLC now owns 306,796 shares of the construction company’s stock worth $25,489,000 after buying an additional 101,949 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PATK. Truist Financial increased their target price on shares of Patrick Industries from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. StockNews.com downgraded shares of Patrick Industries from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. KeyCorp raised their price target on shares of Patrick Industries from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Raymond James raised their price target on shares of Patrick Industries from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Benchmark raised their price target on shares of Patrick Industries from $98.00 to $102.00 and gave the company a “buy” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.96.

Patrick Industries Stock Performance

Shares of PATK opened at $85.34 on Thursday. The company has a market capitalization of $2.87 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.41 and a beta of 2.37. Patrick Industries, Inc. has a one year low of $67.72 and a one year high of $98.90. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 0.77. The company’s fifty day moving average price is $91.04 and its 200 day moving average price is $89.90.

Patrick Industries (NASDAQ:PATK) last announced its earnings results on Thursday, February 6th. The construction company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Patrick Industries had a net margin of 3.72% and a return on equity of 13.25%. As a group, analysts expect that Patrick Industries, Inc. will post 5.33 earnings per share 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 issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.60 annualized dividend and a yield of 1.87%. Patrick Industries’s dividend payout ratio (DPR) is presently 38.83%.

Patrick Industries Company Profile

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.