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.
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.
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