Zebra Capital Management LLC Has $401,000 Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

Share on StockTwits

Zebra Capital Management LLC cut its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 53.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,152 shares of the construction company’s stock after selling 9,374 shares during the quarter. Zebra Capital Management LLC’s holdings in Patrick Industries were worth $401,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PATK. Dimensional Fund Advisors LP lifted its holdings in shares of Patrick Industries by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,074,342 shares of the construction company’s stock worth $31,812,000 after buying an additional 51,096 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Patrick Industries by 53,288.9% during the first quarter. BNP Paribas Arbitrage SA now owns 4,805 shares of the construction company’s stock worth $218,000 after buying an additional 4,796 shares during the last quarter. Bank of Montreal Can increased its position in shares of Patrick Industries by 29.8% during the first quarter. Bank of Montreal Can now owns 5,887 shares of the construction company’s stock valued at $267,000 after purchasing an additional 1,353 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Patrick Industries by 2.3% during the first quarter. Janney Montgomery Scott LLC now owns 12,613 shares of the construction company’s stock valued at $572,000 after purchasing an additional 287 shares during the period. Finally, Comerica Bank increased its position in shares of Patrick Industries by 2.1% during the first quarter. Comerica Bank now owns 22,799 shares of the construction company’s stock valued at $1,099,000 after purchasing an additional 467 shares during the period. Institutional investors own 90.77% of the company’s stock.

In related news, Director M Scott Welch purchased 10,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $39.00 per share, for a total transaction of $390,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.60% of the company’s stock.

A number of analysts have recently issued reports on PATK shares. ValuEngine cut Patrick Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, August 23rd. TheStreet cut Patrick Industries from a “b-” rating to a “c+” rating in a research report on Friday, August 2nd. BidaskClub upgraded Patrick Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. Zacks Investment Research upgraded Patrick Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Bank of America lowered their price objective on Patrick Industries from $51.00 to $36.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $55.20.

Shares of PATK traded up $0.41 on Thursday, reaching $41.51. 7,793 shares of the stock traded hands, compared to its average volume of 195,318. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 1.55 and a beta of 2.10. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.01 and a quick ratio of 0.78. Patrick Industries, Inc. has a 12 month low of $27.32 and a 12 month high of $66.60. The stock’s 50-day moving average price is $39.28 and its 200-day moving average price is $44.59.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $613.20 million for the quarter, compared to analysts’ expectations of $621.33 million. Patrick Industries had a return on equity of 23.07% and a net margin of 4.43%. Patrick Industries’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 earnings per share. As a group, equities research analysts forecast that Patrick Industries, Inc. will post 4.03 earnings per share for the current fiscal year.

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; decorative vinyl and paper laminated panels; 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.

Recommended Story: What is total return in investing?

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.