De Lisle Partners LLP Invests $5.56 Million in Patrick Industries, Inc. $PATK

De Lisle Partners LLP acquired a new stake in Patrick Industries, Inc. (NASDAQ:PATK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,982 shares of the construction company’s stock, valued at approximately $5,561,000. De Lisle Partners LLP owned approximately 0.19% of Patrick Industries at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Patrick Industries by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 2,470,559 shares of the construction company’s stock valued at $267,883,000 after purchasing an additional 16,959 shares during the period. Wellington Management Group LLP lifted its position in shares of Patrick Industries by 19.9% in the 4th quarter. Wellington Management Group LLP now owns 2,217,107 shares of the construction company’s stock worth $240,401,000 after purchasing an additional 367,802 shares during the period. Capital Research Global Investors boosted its stake in shares of Patrick Industries by 24.4% during the fourth quarter. Capital Research Global Investors now owns 1,137,530 shares of the construction company’s stock valued at $123,342,000 after purchasing an additional 223,014 shares in the last quarter. Geode Capital Management LLC increased its holdings in Patrick Industries by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 819,488 shares of the construction company’s stock valued at $88,870,000 after buying an additional 4,816 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Patrick Industries by 17.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 748,904 shares of the construction company’s stock worth $81,205,000 after buying an additional 112,766 shares in the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Patrick Industries Price Performance

NASDAQ PATK opened at $83.41 on Friday. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 19.77 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.67 and a quick ratio of 0.96. The stock’s fifty day moving average price is $86.42 and its 200 day moving average price is $101.52. Patrick Industries, Inc. has a 1 year low of $81.29 and a 1 year high of $148.50.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $994.95 million. Patrick Industries had a return on equity of 12.69% and a net margin of 3.74%.The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.50 EPS. As a group, equities research analysts forecast that Patrick Industries, Inc. will post 4.26 earnings per share for the current year.

Patrick Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.88 dividend on an annualized basis and a yield of 2.3%. Patrick Industries’s dividend payout ratio is presently 44.55%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings cut Patrick Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Benchmark restated a “buy” rating and set a $115.00 price objective (down from $135.00) on shares of Patrick Industries in a research note on Tuesday, August 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $94.00 price objective on shares of Patrick Industries in a research report on Friday, July 31st. Roth Capital set a $114.00 target price on Patrick Industries in a research note on Friday, July 31st. Finally, Robert W. Baird set a $110.00 target price on shares of Patrick Industries in a report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.12.

About Patrick Industries

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.