New York State Common Retirement Fund Has $6.70 Million Stock Position in Patrick Industries, Inc. (NASDAQ:PATK)

New York State Common Retirement Fund boosted its holdings in Patrick Industries, Inc. (NASDAQ:PATK) by 50.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 80,649 shares of the construction company’s stock after purchasing an additional 26,882 shares during the period. New York State Common Retirement Fund’s holdings in Patrick Industries were worth $6,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PATK. Kestra Investment Management LLC acquired a new stake in shares of Patrick Industries in the fourth quarter worth $25,000. Quent Capital LLC bought a new stake in Patrick Industries in the 4th quarter valued at $53,000. GAMMA Investing LLC grew its position in Patrick Industries by 61.2% in the 4th quarter. GAMMA Investing LLC now owns 764 shares of the construction company’s stock worth $63,000 after purchasing an additional 290 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Patrick Industries by 35.1% during the 4th quarter. UMB Bank n.a. now owns 766 shares of the construction company’s stock worth $64,000 after purchasing an additional 199 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in shares of Patrick Industries during the fourth quarter valued at about $86,000. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Patrick Industries Stock Down 2.0 %

Shares of NASDAQ PATK opened at $90.89 on Thursday. Patrick Industries, Inc. has a 52-week low of $67.72 and a 52-week high of $98.90. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.77 and a current ratio of 2.33. The business has a fifty day moving average of $90.19 and a two-hundred day moving average of $89.61. The stock has a market cap of $3.06 billion, a PE ratio of 22.06, a PEG ratio of 1.41 and a beta of 2.26.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings results on Thursday, February 6th. The construction company reported $0.52 earnings per share (EPS) for the quarter, beating 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, equities research analysts expect that Patrick Industries, Inc. will post 5.33 earnings per share for the current fiscal year.

Patrick Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.76%. Patrick Industries’s dividend payout ratio is 38.83%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PATK shares. StockNews.com downgraded Patrick Industries from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. BMO Capital Markets boosted their price objective on Patrick Industries from $100.00 to $103.33 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark raised their target price on Patrick Industries from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. KeyCorp boosted 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. Finally, Truist Financial raised their price objective on shares of Patrick Industries from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Patrick Industries has a consensus rating of “Moderate Buy” and an average target price of $97.96.

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.