Nomura Holdings Inc. Buys 46,686 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

Nomura Holdings Inc. grew its stake in Patrick Industries, Inc. (NASDAQ:PATK) by 76.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,632 shares of the construction company’s stock after purchasing an additional 46,686 shares during the quarter. Nomura Holdings Inc. owned approximately 0.32% of Patrick Industries worth $8,942,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Patrick Industries by 49.3% in the fourth quarter. Vanguard Group Inc. now owns 2,326,262 shares of the construction company’s stock valued at $193,266,000 after acquiring an additional 768,102 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Patrick Industries by 391.8% in the fourth quarter. Wellington Management Group LLP now owns 2,027,708 shares of the construction company’s stock valued at $168,462,000 after acquiring an additional 1,615,412 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Patrick Industries by 48.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,863,547 shares of the construction company’s stock valued at $154,823,000 after acquiring an additional 609,036 shares in the last quarter. Capital World Investors grew its stake in shares of Patrick Industries by 50.0% in the fourth quarter. Capital World Investors now owns 944,319 shares of the construction company’s stock valued at $78,454,000 after acquiring an additional 314,773 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Patrick Industries by 50.0% in the fourth quarter. Geode Capital Management LLC now owns 779,223 shares of the construction company’s stock valued at $64,752,000 after acquiring an additional 259,783 shares in the last quarter. 93.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. KeyCorp decreased their price target on shares of Patrick Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Baird R W downgraded shares of Patrick Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Truist Financial reduced their price objective on shares of Patrick Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Roth Mkm reiterated a “buy” rating and set a $100.00 price objective (down from $112.00) on shares of Patrick Industries in a research note on Friday, May 2nd. Finally, Benchmark increased their price objective on shares of Patrick Industries from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.29.

Patrick Industries Trading Down 3.6%

PATK opened at $86.60 on Thursday. Patrick Industries, Inc. has a fifty-two week low of $67.72 and a fifty-two week high of $98.90. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 0.77. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 1.41 and a beta of 2.05. The company’s 50 day moving average price is $82.36 and its two-hundred day moving average price is $86.81.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $959.46 million. Patrick Industries had a net margin of 3.72% and a return on equity of 13.25%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.79 EPS. As a group, research analysts predict that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

Insider Transactions at Patrick Industries

In related news, EVP Stacey L. Neu sold 2,885 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $85.53, for a total transaction of $246,754.05. Following the transaction, the executive vice president now owns 18,044 shares in the company, valued at $1,543,303.32. The trade was a 13.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Scott Welch bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $84.62 per share, for a total transaction of $211,550.00. Following the transaction, the director now directly owns 2,961 shares in the company, valued at $250,559.82. This trade represents a 542.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.40% of the company’s stock.

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.