Campbell & CO Investment Adviser LLC Invests $369,000 in Patrick Industries, Inc. $PATK

Campbell & CO Investment Adviser LLC purchased a new position in Patrick Industries, Inc. (NASDAQ:PATK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,004 shares of the construction company’s stock, valued at approximately $369,000.

A number of other institutional investors have also recently made changes to their positions in PATK. Cerity Partners LLC bought a new stake in Patrick Industries during the 1st quarter valued at $729,000. New York State Common Retirement Fund grew its position in shares of Patrick Industries by 1.4% in the 1st quarter. New York State Common Retirement Fund now owns 81,749 shares of the construction company’s stock worth $6,913,000 after buying an additional 1,100 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Patrick Industries by 44.8% during the first quarter. Victory Capital Management Inc. now owns 61,454 shares of the construction company’s stock valued at $5,197,000 after buying an additional 19,016 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Patrick Industries by 8.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 26,751 shares of the construction company’s stock valued at $2,262,000 after buying an additional 1,983 shares during the period. Finally, Crestwood Advisors Group LLC purchased a new position in Patrick Industries during the 1st quarter valued at $1,738,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Patrick Industries Trading Down 1.2%

NASDAQ:PATK opened at $100.00 on Monday. Patrick Industries, Inc. has a one year low of $72.99 and a one year high of $116.78. The business has a fifty day moving average price of $103.53 and a 200-day moving average price of $99.02. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.33. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.96 and a quick ratio of 0.75.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $975.63 million during the quarter, compared to analyst estimates of $900.35 million. Patrick Industries had a return on equity of 13.04% and a net margin of 3.30%.Patrick Industries’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.80 earnings per share. Sell-side analysts forecast that Patrick Industries, Inc. will post 5.33 EPS for the current year.

Insider Buying and Selling at Patrick Industries

In other Patrick Industries news, Director Michael A. Kitson sold 4,572 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $112.67, for a total value of $515,127.24. Following the completion of the sale, the director owned 11,850 shares in the company, valued at approximately $1,335,139.50. This represents a 27.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PATK shares. Benchmark increased their price target on shares of Patrick Industries from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Roth Capital set a $115.00 price target on Patrick Industries and gave the company a “buy” rating in a report on Friday, October 31st. Loop Capital initiated coverage on shares of Patrick Industries in a research note on Friday, October 31st. They issued a “hold” rating and a $99.00 price target on the stock. Weiss Ratings cut Patrick Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Truist Financial set a $114.00 price objective on Patrick Industries and gave the stock a “buy” rating in a report on Wednesday, October 15th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Patrick Industries presently has an average rating of “Moderate Buy” and a consensus price target of $108.00.

Patrick Industries 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.