HRT Financial LLC Takes $389,000 Position in Patrick Industries, Inc. (PATK)

HRT Financial LLC bought a new position in Patrick Industries, Inc. (NASDAQ:PATK) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,850 shares of the construction company’s stock, valued at approximately $389,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Xact Kapitalforvaltning AB lifted its stake in Patrick Industries by 29.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 4,008 shares of the construction company’s stock worth $248,000 after purchasing an additional 900 shares in the last quarter. Raymond James & Associates raised its position in shares of Patrick Industries by 22.9% during the 2nd quarter. Raymond James & Associates now owns 4,937 shares of the construction company’s stock valued at $281,000 after buying an additional 921 shares during the period. Comerica Bank raised its position in shares of Patrick Industries by 3.8% during the 1st quarter. Comerica Bank now owns 25,671 shares of the construction company’s stock valued at $1,375,000 after buying an additional 943 shares during the period. New York State Common Retirement Fund raised its position in shares of Patrick Industries by 2.5% during the 1st quarter. New York State Common Retirement Fund now owns 39,557 shares of the construction company’s stock valued at $2,447,000 after buying an additional 979 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Patrick Industries by 7.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,774 shares of the construction company’s stock valued at $897,000 after buying an additional 1,050 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. Zacks Investment Research lowered shares of Patrick Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 27th. BidaskClub raised shares of Patrick Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, ValuEngine lowered shares of Patrick Industries from a “buy” rating to a “hold” rating in a research report on Monday, June 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $73.20.

PATK stock opened at $65.90 on Friday. The company has a market cap of $1.58 billion, a PE ratio of 15.26, a PEG ratio of 0.91 and a beta of 0.84. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.87 and a current ratio of 2.23. Patrick Industries, Inc. has a one year low of $49.23 and a one year high of $72.35.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings results on Thursday, July 26th. The construction company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.21. The firm had revenue of $604.88 million for the quarter, compared to analyst estimates of $553.60 million. Patrick Industries had a net margin of 5.49% and a return on equity of 27.49%. The business’s revenue for the quarter was up 48.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. analysts forecast that Patrick Industries, Inc. will post 4.75 earnings per share for the current year.

In other Patrick Industries news, Director Walter E. Wells sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $64.10, for a total value of $256,400.00. Following the sale, the director now owns 61,030 shares of the company’s stock, valued at $3,912,023. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

Patrick Industries Company Profile

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.

Read More: Hedge Funds – How They Work For Investors

Want to see what other hedge funds are holding PATK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Patrick Industries, Inc. (NASDAQ:PATK).

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

Receive News & Ratings for Patrick Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply