Nomura Holdings Inc. Sells 3,201 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

Nomura Holdings Inc. decreased its holdings in Patrick Industries, Inc. (NASDAQ:PATKFree Report) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,748 shares of the construction company’s stock after selling 3,201 shares during the period. Nomura Holdings Inc. owned about 0.35% of Patrick Industries worth $7,702,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC grew its holdings in shares of Patrick Industries by 457.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 17,685 shares of the construction company’s stock worth $1,774,000 after acquiring an additional 14,510 shares during the period. Invesco Ltd. lifted its position in Patrick Industries by 7.0% during the third quarter. Invesco Ltd. now owns 277,265 shares of the construction company’s stock valued at $20,812,000 after purchasing an additional 18,256 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in Patrick Industries during the third quarter valued at $599,000. SummerHaven Investment Management LLC lifted its position in Patrick Industries by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 8,768 shares of the construction company’s stock valued at $880,000 after purchasing an additional 117 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Patrick Industries by 39.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,046,059 shares of the construction company’s stock valued at $104,972,000 after acquiring an additional 297,381 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PATK shares. StockNews.com downgraded Patrick Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Roth Mkm restated a “buy” rating and issued a $126.00 price objective (up from $120.00) on shares of Patrick Industries in a research report on Monday, May 6th. Truist Financial restated a “buy” rating and issued a $130.00 price objective on shares of Patrick Industries in a research report on Friday, April 12th. Finally, BMO Capital Markets boosted their price objective on Patrick Industries from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.71.

View Our Latest Analysis on Patrick Industries

Patrick Industries Trading Down 1.6 %

Shares of NASDAQ PATK opened at $104.90 on Tuesday. The business’s 50 day moving average is $110.50 and its two-hundred day moving average is $105.74. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.38 and a quick ratio of 0.96. Patrick Industries, Inc. has a 1-year low of $70.15 and a 1-year high of $123.58. The stock has a market capitalization of $2.35 billion, a P/E ratio of 15.54, a PEG ratio of 0.77 and a beta of 1.70.

Patrick Industries (NASDAQ:PATKGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.79 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $829.22 million. During the same period in the previous year, the firm posted $1.35 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts expect that Patrick Industries, Inc. will post 8.12 EPS for the current year.

Patrick Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.10%. Patrick Industries’s dividend payout ratio is 32.59%.

About Patrick Industries

(Free Report)

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.

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

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