Patrick Industries Stock Scheduled to Split on Monday, December 11th (PATK)

Shares of Patrick Industries, Inc. (NASDAQ:PATK) are set to split on the morning of Monday, December 11th. The 3-2 split was announced on Thursday, November 9th. The newly minted shares will be payable to shareholders after the market closes on Friday, December 8th.

Patrick Industries (PATK) opened at $97.30 on Thursday. Patrick Industries has a 12-month low of $60.10 and a 12-month high of $102.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.23 and a quick ratio of 1.00. The stock has a market cap of $1,648.54, a PE ratio of 22.43, a P/E/G ratio of 2.05 and a beta of 0.99.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.15. Patrick Industries had a net margin of 4.73% and a return on equity of 24.60%. The company had revenue of $407.50 million during the quarter, compared to analyst estimates of $371.98 million. During the same quarter last year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. equities analysts forecast that Patrick Industries will post 4.53 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on PATK shares. Robert W. Baird restated a “buy” rating on shares of Patrick Industries in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Saturday, September 16th. Finally, Bank of America raised their price objective on shares of Patrick Industries from $85.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Patrick Industries has an average rating of “Buy” and an average price target of $84.50.

In other Patrick Industries news, Director Paul E. Hassler sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the transaction, the director now directly owns 47,099 shares in the company, valued at $3,532,425. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul E. Hassler sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $77.00, for a total transaction of $770,000.00. Following the completion of the transaction, the director now owns 32,911 shares of the company’s stock, valued at $2,534,147. The disclosure for this sale can be found here. Over the last quarter, insiders sold 231,937 shares of company stock valued at $19,610,244. Corporate insiders own 5.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its holdings in shares of Patrick Industries by 13.7% in the third quarter. GSA Capital Partners LLP now owns 20,980 shares of the construction company’s stock worth $1,764,000 after buying an additional 2,530 shares during the period. Algert Global LLC boosted its holdings in shares of Patrick Industries by 26.3% in the third quarter. Algert Global LLC now owns 35,155 shares of the construction company’s stock worth $2,957,000 after buying an additional 7,329 shares during the period. California Public Employees Retirement System lifted its position in shares of Patrick Industries by 3.3% in the third quarter. California Public Employees Retirement System now owns 34,103 shares of the construction company’s stock worth $2,868,000 after purchasing an additional 1,103 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Patrick Industries by 6.8% in the third quarter. Stifel Financial Corp now owns 228,182 shares of the construction company’s stock worth $19,189,000 after purchasing an additional 14,565 shares in the last quarter. Finally, OxFORD Asset Management LLP lifted its position in shares of Patrick Industries by 199.6% in the third quarter. OxFORD Asset Management LLP now owns 36,504 shares of the construction company’s stock worth $3,063,000 after purchasing an additional 24,318 shares in the last quarter. Institutional investors own 89.33% of the company’s stock.

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Patrick Industries Company Profile

Patrick Industries, Inc is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industrial markets for customers throughout the United States and Canada. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets.

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