Centaurus Financial Inc. Has $4.83 Million Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

Centaurus Financial Inc. trimmed its position in Patrick Industries, Inc. (NASDAQ:PATK) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,528 shares of the construction company’s stock after selling 1,972 shares during the quarter. Centaurus Financial Inc.’s holdings in Patrick Industries were worth $4,834,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in Patrick Industries by 20.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,325,556 shares of the construction company’s stock valued at $143,889,000 after buying an additional 221,904 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Patrick Industries in the second quarter valued at about $22,460,000. Peregrine Capital Management LLC acquired a new position in Patrick Industries in the first quarter worth about $8,546,000. Price T Rowe Associates Inc. MD lifted its stake in Patrick Industries by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 276,870 shares of the construction company’s stock worth $33,078,000 after purchasing an additional 26,389 shares during the period. Finally, Anchor Capital Management Company LLC boosted its holdings in Patrick Industries by 18.0% during the second quarter. Anchor Capital Management Company LLC now owns 146,088 shares of the construction company’s stock valued at $15,858,000 after purchasing an additional 22,279 shares in the last quarter. 93.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PATK. Benchmark restated a “buy” rating and set a $145.00 target price on shares of Patrick Industries in a research report on Tuesday, September 17th. Raymond James initiated coverage on Patrick Industries in a report on Tuesday. They set an “outperform” rating and a $160.00 price objective for the company. BMO Capital Markets upped their target price on shares of Patrick Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. DA Davidson lifted their price target on shares of Patrick Industries from $108.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, KeyCorp upped their price objective on shares of Patrick Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.50.

Insider Activity

In related news, COO Hugo E. Gonzalez sold 1,911 shares of Patrick Industries stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $130.11, for a total value of $248,640.21. Following the completion of the sale, the chief operating officer now directly owns 23,759 shares in the company, valued at $3,091,283.49. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Hugo E. Gonzalez sold 1,911 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $130.11, for a total value of $248,640.21. Following the transaction, the chief operating officer now owns 23,759 shares of the company’s stock, valued at approximately $3,091,283.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff Rodino sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $131.37, for a total transaction of $2,627,400.00. Following the sale, the insider now directly owns 139,109 shares of the company’s stock, valued at $18,274,749.33. The disclosure for this sale can be found here. Insiders have sold 29,411 shares of company stock valued at $3,858,915 over the last 90 days. 4.70% of the stock is owned by company insiders.

Patrick Industries Stock Down 1.0 %

Shares of NASDAQ:PATK opened at $142.90 on Thursday. The company has a quick ratio of 0.94, a current ratio of 2.29 and a debt-to-equity ratio of 1.19. The firm has a market cap of $3.20 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.21 and a beta of 1.62. Patrick Industries, Inc. has a 12 month low of $70.15 and a 12 month high of $147.80. The company’s 50-day moving average price is $129.91 and its two-hundred day moving average price is $117.84.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $2.16 EPS for the quarter, beating the consensus estimate of $2.05 by $0.11. Patrick Industries had a net margin of 4.26% and a return on equity of 15.06%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $972.06 million. During the same period in the prior year, the firm earned $1.94 earnings per share. Patrick Industries’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts forecast that Patrick Industries, Inc. will post 7.32 EPS for the current fiscal year.

Patrick Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.54%. Patrick Industries’s payout ratio is currently 32.59%.

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.