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

Nomura Holdings Inc. lifted its position in Patrick Industries, Inc. (NASDAQ:PATK) by 76.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 107,632 shares of the construction company’s stock after acquiring an additional 46,686 shares during the quarter. Nomura Holdings Inc.’s holdings in Patrick Industries were worth $8,942,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Patrick Industries by 49.3% in the 4th quarter. Vanguard Group Inc. now owns 2,326,262 shares of the construction company’s stock worth $193,266,000 after acquiring an additional 768,102 shares in the last quarter. Wellington Management Group LLP grew its position in Patrick Industries by 391.8% during 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 buying an additional 1,615,412 shares during the period. Dimensional Fund Advisors LP grew its position in Patrick Industries by 48.5% during 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 buying an additional 609,036 shares during the period. Capital World Investors grew its position in Patrick Industries by 50.0% during the fourth quarter. Capital World Investors now owns 944,319 shares of the construction company’s stock valued at $78,454,000 after buying an additional 314,773 shares during the period. Finally, Geode Capital Management LLC grew its position in Patrick Industries by 50.0% during the fourth quarter. Geode Capital Management LLC now owns 779,223 shares of the construction company’s stock valued at $64,752,000 after buying an additional 259,783 shares during the period. Institutional investors own 93.29% of the company’s stock.

Patrick Industries Price Performance

Shares of NASDAQ:PATK opened at $86.60 on Thursday. The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $2.91 billion, a PE ratio of 21.02, a P/E/G ratio of 1.41 and a beta of 2.05. Patrick Industries, Inc. has a twelve month low of $67.72 and a twelve month high of $98.90. The company has a 50-day moving average price of $82.36 and a two-hundred day moving average price of $86.81.

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

Insider Activity

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Patrick Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Robert W. Baird reduced their price target on shares of Patrick Industries from $96.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Baird R W lowered shares of Patrick Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Benchmark increased their price target on shares of Patrick Industries from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, KeyCorp reduced their price target on shares of Patrick Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.29.

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.