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Patrick Industries, Inc. (NASDAQ:PATK - Get Rating) Chairman Todd M. Cleveland sold 20,000 shares of the business's stock in a transaction on Monday, August 15th. The shares were sold at an average price of $63.42, for a total transaction of $1,268,400.00. Following the completion of the transaction, the chairman now owns 131,737 shares in the company, valued at approximately $8,354,760.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Patrick Industries Stock Down 3.4 %

Shares of NASDAQ:PATK traded down $2.24 during midday trading on Wednesday, hitting $62.83. 120,798 shares of the company's stock were exchanged, compared to its average volume of 225,965. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.58 and a quick ratio of 1.02. The stock has a 50 day moving average price of $56.31 and a 200-day moving average price of $61.44. The company has a market cap of $1.44 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 0.55 and a beta of 1.93. Patrick Industries, Inc. has a 12 month low of $49.79 and a 12 month high of $88.79.

Patrick Industries (NASDAQ:PATK - Get Rating) last posted its earnings results on Thursday, July 28th. The construction company reported $5.31 EPS for the quarter, topping the consensus estimate of $3.42 by $1.89. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.23 billion. Patrick Industries had a net margin of 6.92% and a return on equity of 45.44%. On average, sell-side analysts anticipate that Patrick Industries, Inc. will post 13.63 EPS for the current fiscal year. Patrick Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 29th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, August 26th. Patrick Industries's payout ratio is presently 9.17%. Institutional Investors Weigh In On Patrick Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. increased its position in shares of Patrick Industries by 2.8% during the first quarter. Advisor Group Holdings Inc. now owns 5,532 shares of the construction company's stock worth $333,000 after acquiring an additional 149 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Patrick Industries by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 3,238 shares of the construction company's stock worth $195,000 after purchasing an additional 168 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Patrick Industries by 2.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 9,090 shares of the construction company's stock worth $548,000 after purchasing an additional 196 shares in the last quarter. FinTrust Capital Advisors LLC grew its position in Patrick Industries by 75.4% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 491 shares of the construction company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC grew its position in Patrick Industries by 2.1% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 14,329 shares of the construction company's stock worth $864,000 after purchasing an additional 297 shares in the last quarter. 94.85% of the stock is owned by institutional investors. Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. KeyCorp boosted their target price on shares of Patrick Industries from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Monday, August 1st. TheStreet lowered shares of Patrick Industries from a "b-" rating to a "c+" rating in a report on Thursday, July 14th. Truist Financial decreased their price target on shares of Patrick Industries to $75.00 in a research note on Thursday, May 26th. MKM Partners started coverage on shares of Patrick Industries in a research note on Thursday, May 5th. They issued a "buy" rating and a $93.00 price target for the company. Finally, StockNews.com downgraded shares of Patrick Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $74.00.Patrick Industries Company Profile (Get Rating)

Patrick Industries, Inc manufactures and distributes components, building products, and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, China, and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, wall, countertop, and cabinet product; cabinet door, fiberglass bath fixture, and tile system; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum product; fiberglass and plastic components; RV painting; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinet; polymer-based flooring product; dash panels; and other products.Recommended StoriesGet a free copy of the StockNews.com research report on Patrick Industries (PATK)Lowe’s Stands Out Amid Q2 Retail Reports Agilent Technologies Proves Its Worth VS Illumina Target’s Results Cap Upside Potential For Retail Stocks Are These 3 Video Game Stocks Now In Play? 2 Long-Term EV Plays Trading Under $20

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