Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK – Free Report) by 49.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 12,778 shares of the construction company’s stock after selling 12,349 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Patrick Industries were worth $1,419,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 buying an additional 851 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Patrick Industries by 5.6% in 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 buying an additional 3,748 shares during the last quarter. Strs Ohio acquired a new stake in Patrick Industries in the first quarter valued at $42,000. Cetera Investment Advisers raised its holdings in Patrick Industries by 64.8% in the second quarter. Cetera Investment Advisers now owns 6,058 shares of the construction company’s stock valued at $559,000 after acquiring an additional 2,381 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Patrick Industries during the 2nd quarter worth $340,000. 93.29% of the stock is owned by institutional investors and hedge funds.
Patrick Industries Stock Down 1.7%
Shares of NASDAQ:PATK opened at $82.55 on Friday. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 19.56 and a beta of 1.11. Patrick Industries, Inc. has a 1-year low of $81.29 and a 1-year high of $148.50. The company’s fifty day moving average is $87.25 and its two-hundred day moving average is $105.79. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.04 and a current ratio of 2.67.
Patrick Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Tuesday, May 26th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.3%. Patrick Industries’s dividend payout ratio (DPR) is currently 44.55%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PATK. Benchmark dropped their target price on shares of Patrick Industries from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Weiss Ratings downgraded Patrick Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Wall Street Zen lowered Patrick Industries from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Robert W. Baird set a $110.00 price objective on Patrick Industries in a research note on Friday, May 1st. Finally, Truist Financial reduced their target price on Patrick Industries from $126.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Patrick Industries has an average rating of “Moderate Buy” and a consensus price target of $116.25.
Read Our Latest Report on PATK
Insider Buying and Selling
In related news, CEO Andy L. Nemeth bought 10,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of $88.00 per share, with a total value of $880,000.00. Following the completion of the acquisition, the chief executive officer owned 287,745 shares of the company’s stock, valued at $25,321,560. This trade represents a 3.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles R. Roeder purchased 5,750 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were bought at an average price of $87.83 per share, for a total transaction of $505,022.50. Following the completion of the transaction, the insider directly owned 42,147 shares in the company, valued at approximately $3,701,771.01. This trade represents a 15.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 28,700 shares of company stock valued at $2,532,880 over the last 90 days. 3.80% of the stock is owned by corporate insiders.
Trending Headlines about Patrick Industries
Here are the key news stories impacting Patrick Industries this week:
- Positive Sentiment: Patrick Industries reported second-quarter 2026 earnings of $1.29 per share, exceeding consensus estimates of $1.23–$1.24. Revenue of approximately $1.04 billion also surpassed expectations of about $995 million. Patrick Industries Reports Second Quarter 2026 Financial Results
- Neutral Sentiment: The earnings call, presentation and follow-up coverage are refocusing attention on demand trends across Patrick’s Outdoor Enthusiast and Housing markets, with investors looking for evidence that the company can sustain performance despite uneven end-market conditions. Patrick Industries Q2 2026 Earnings Call Transcript
- Negative Sentiment: Despite beating estimates, quarterly EPS declined from $1.50 a year earlier, while revenue fell approximately 0.6% year over year. The company’s 3.74% net margin also highlights limited profitability, which may be contributing to investor caution. Patrick Industries Q2 Earnings and Revenues Surpass Estimates
- Negative Sentiment: The stock is trading near its one-year low and below both its 50-day and 200-day moving averages, suggesting that the earnings beat has not yet overcome broader concerns about growth and operating momentum.
Patrick Industries 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.
Read More
- Five stocks we like better than Patrick Industries
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
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 – Free Report).
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.
