First National Bank of Omaha Acquires Shares of 5,808 Patrick Industries, Inc. $PATK

First National Bank of Omaha bought a new position in shares of Patrick Industries, Inc. (NASDAQ:PATK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,808 shares of the construction company’s stock, valued at approximately $601,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Patrick Industries by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,302 shares of the construction company’s stock valued at $1,632,000 after acquiring an additional 851 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Patrick Industries by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,446 shares of the construction company’s stock worth $5,957,000 after purchasing an additional 3,748 shares during the last quarter. Strs Ohio acquired a new stake in shares of Patrick Industries during the first quarter worth $42,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Patrick Industries in the 2nd quarter valued at $400,000. Finally, Ethic Inc. raised its position in Patrick Industries by 13.1% during the 2nd quarter. Ethic Inc. now owns 2,909 shares of the construction company’s stock worth $269,000 after buying an additional 337 shares during the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Loop Capital assumed coverage on shares of Patrick Industries in a research report on Friday, October 31st. They issued a “hold” rating and a $99.00 price objective for the company. Benchmark reiterated a “buy” rating on shares of Patrick Industries in a research report on Friday, February 6th. Weiss Ratings lowered shares of Patrick Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. KeyCorp reaffirmed an “overweight” rating and set a $155.00 price target (up from $135.00) on shares of Patrick Industries in a research note on Friday, February 6th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective on shares of Patrick Industries in a research note 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.13.

Insider Buying and Selling

In other Patrick Industries news, Director John A. Forbes sold 2,704 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $140.75, for a total value of $380,588.00. Following the transaction, the director directly owned 49,272 shares in the company, valued at approximately $6,935,034. This represents a 5.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stacey L. Amundson sold 3,903 shares of Patrick Industries stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $145.61, for a total transaction of $568,315.83. Following the sale, the executive vice president owned 12,819 shares of the company’s stock, valued at approximately $1,866,574.59. This trade represents a 23.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,607 shares of company stock valued at $3,823,904 over the last three months. Insiders own 4.40% of the company’s stock.

Patrick Industries Trading Down 1.2%

NASDAQ:PATK opened at $135.82 on Friday. Patrick Industries, Inc. has a 52-week low of $72.99 and a 52-week high of $148.50. 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 stock has a fifty day simple moving average of $124.13 and a 200-day simple moving average of $112.13. The company has a market capitalization of $4.52 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.34.

Patrick Industries (NASDAQ:PATK) last announced its earnings results on Thursday, February 5th. The construction company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Patrick Industries had a net margin of 3.42% and a return on equity of 13.28%. The company had revenue of $924.17 million during the quarter, compared to analysts’ expectations of $858.62 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts expect that Patrick Industries, Inc. will post 5.33 earnings per share for the current fiscal year.

Patrick Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, February 23rd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.88 annualized dividend and a yield of 1.4%. Patrick Industries’s dividend payout ratio (DPR) is presently 48.08%.

Patrick Industries Company Profile

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.