Key Points
- EVP Stacey Amundson sold 3,903 shares on Feb. 12 at an average price of $145.61 for proceeds of $568,315.83, trimming her stake by 23.34% to 12,819 shares (≈$1.87M).
- Q4 results beat expectations: EPS $0.84 vs. $0.74 consensus and revenue $924.17M vs. $858.62M (revenue +9.2% YoY); the company also announced a quarterly dividend of $0.47 (1.3% yield) payable Mar. 9.
- Analyst/market snapshot: Patrick Industries holds a "Moderate Buy" consensus with an average price target of $135.13, trades near its 52-week high ($148.50), and has a market cap of about $4.76B and a P/E of 36.6.
Patrick Industries, Inc. (NASDAQ:PATK - Get Free Report) EVP Stacey Amundson sold 3,903 shares of Patrick Industries stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $145.61, for a total transaction of $568,315.83. Following the completion of the sale, the executive vice president directly owned 12,819 shares in the company, valued at approximately $1,866,574.59. The trade was a 23.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Patrick Industries Trading Up 1.3%
NASDAQ PATK opened at $143.10 on Friday. The company has a quick ratio of 0.80, a current ratio of 2.51 and a debt-to-equity ratio of 1.08. The firm has a 50-day moving average price of $121.92 and a 200 day moving average price of $111.03. The stock has a market capitalization of $4.76 billion, a P/E ratio of 36.60, a P/E/G ratio of 1.49 and a beta of 1.34. Patrick Industries, Inc. has a 52-week low of $72.99 and a 52-week high of $148.50.
Patrick Industries (NASDAQ:PATK - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The construction company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. The firm had revenue of $924.17 million for the quarter, compared to the consensus estimate of $858.62 million. Patrick Industries had a return on equity of 13.28% and a net margin of 3.42%.The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. Equities research analysts expect that Patrick Industries, Inc. will post 5.33 EPS for the current year.
Patrick Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be paid a $0.47 dividend. The ex-dividend date is Monday, February 23rd. This represents a $1.88 annualized dividend and a dividend yield of 1.3%. Patrick Industries's dividend payout ratio (DPR) is 48.08%.
Wall Street Analysts Forecast Growth
PATK has been the subject of a number of research reports. Truist Financial set a $126.00 price target on shares of Patrick Industries in a research report on Friday, January 9th. Robert W. Baird set a $140.00 target price on shares of Patrick Industries in a research report on Friday, February 6th. Weiss Ratings cut shares of Patrick Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday, October 25th. KeyCorp reaffirmed an "overweight" rating and issued a $155.00 target price (up previously from $135.00) on shares of Patrick Industries in a research note on Friday, February 6th. Finally, Benchmark reiterated a "buy" rating on shares of Patrick Industries in a research report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Patrick Industries currently has an average rating of "Moderate Buy" and an average price target of $135.13.
View Our Latest Research Report on PATK
Hedge Funds Weigh In On Patrick Industries
Several institutional investors have recently added to or reduced their stakes in PATK. Kestra Advisory Services LLC acquired a new stake in shares of Patrick Industries in the fourth quarter worth approximately $73,000. CANADA LIFE ASSURANCE Co raised its stake in Patrick Industries by 3.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 28,765 shares of the construction company's stock worth $3,117,000 after purchasing an additional 993 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of Patrick Industries in the 4th quarter valued at $11,154,000. Advisory Research Inc. grew its stake in shares of Patrick Industries by 5.3% during the 4th quarter. Advisory Research Inc. now owns 7,804 shares of the construction company's stock valued at $846,000 after buying an additional 396 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Patrick Industries by 53.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,576 shares of the construction company's stock worth $175,000 after acquiring an additional 547 shares during the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.
Patrick Industries Company Profile
(
Get Free Report)
Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.
Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.
Further Reading
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