<div id="readability-page-1"><p>Squarepoint Ops LLC acquired a new position in shares of  Patrick Industries, Inc. (NASDAQ:PATK - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 38,978 shares of the construction company's stock, valued at approximately $3,238,000. Squarepoint Ops LLC owned approximately 0.12% of Patrick Industries at the end of the most recent quarter.</p><div><p><span></span><span>Get <strong>Patrick Industries</strong> alerts:</span></p></div><ul><li>3 Undervalued And Under-the-Radar Automotive Stocks</li></ul><p>Several other large investors also recently bought and sold shares of PATK. Kestra Investment Management LLC purchased a new stake in shares of  Patrick Industries in the fourth quarter valued at approximately $25,000.  Covestor Ltd grew its position in shares of  Patrick Industries by 10,400.0% in the fourth quarter. Covestor Ltd now owns 315 shares of the construction company's stock valued at $26,000 after purchasing an additional 312 shares in the last quarter.  Quadrant Capital Group LLC grew its position in shares of  Patrick Industries by 49.8% in the fourth quarter. Quadrant Capital Group LLC now owns 328 shares of the construction company's stock valued at $27,000 after purchasing an additional 109 shares in the last quarter.  Nomura Asset Management Co. Ltd. grew its position in shares of  Patrick Industries by 49.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344 shares of the construction company's stock valued at $29,000 after purchasing an additional 114 shares in the last quarter.  Finally, Smartleaf Asset Management LLC grew its position in shares of  Patrick Industries by 812.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company's stock valued at $49,000 after purchasing an additional 528 shares in the last quarter. 93.29% of the stock is currently owned by hedge funds and other institutional investors. </p><h2>Analysts Set New Price Targets</h2><p>A number of research firms have recently issued reports on PATK. Baird R W lowered Patrick Industries from a &#34;strong-buy&#34; rating to a &#34;hold&#34; rating in a research report on Friday, April 4th. Benchmark upped their price target on Patrick Industries from $98.00 to $102.00 and gave the company a &#34;buy&#34; rating in a research report on Friday, February 7th. Wall Street Zen raised Patrick Industries from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a research note on Wednesday, April 30th. Truist Financial cut their target price on Patrick Industries from $120.00 to $110.00 and set a &#34;buy&#34; rating for the company in a research note on Monday, April 14th. Finally, KeyCorp cut their target price on Patrick Industries from $110.00 to $100.00 and set an &#34;overweight&#34; rating for the company in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and six have issued  a buy rating to the stock. Based on data from MarketBeat.com, Patrick Industries currently has a consensus rating of &#34;Moderate Buy&#34; and a consensus price target of $96.29.</p><p><b>View Our Latest Research Report on Patrick Industries</b></p><h2>Insider Transactions at Patrick Industries</h2><p>In other news, Director Todd M. Cleveland purchased 5,000 shares of the stock in a transaction dated Monday, May 19th. The stock was acquired at an average cost of $87.49 per share, for a total transaction of $437,450.00. Following the completion of the transaction, the director now directly owns 130,286 shares in the company, valued at approximately $11,398,722.14. This represents a 3.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stacey L. Neu sold 2,885 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total value of $246,754.05. Following the transaction, the executive vice president now owns 18,044 shares of the company's stock, valued at approximately $1,543,303.32. This represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 23,500 shares of company stock worth $2,026,000 over the last ninety days. Company insiders own  4.40% of the company's stock. </p><h2>Patrick Industries Price Performance</h2><p>PATK stock opened at $86.10 on Tuesday. The business has a fifty day moving average of $82.71 and a two-hundred day moving average of $87.02. 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 stock has a market cap of $2.88 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.41 and a beta of 2.05. Patrick Industries, Inc. has a 52-week low of $67.72 and a 52-week high of $98.90. </p><p>Patrick Industries (NASDAQ:PATK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.98 by $0.13. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $959.46 million. During the same period last year, the business posted $1.79 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis.  As a group, research analysts anticipate that  Patrick Industries, Inc. will post 5.33 earnings per share for the current year. </p><h2>Patrick Industries Announces Dividend</h2><p>The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.60 annualized dividend and a dividend yield of 1.86%. Patrick Industries's dividend payout ratio  is currently 38.37%. </p><h2>About Patrick Industries</h2> (Free Report)<p>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.</p><h2>Further Reading</h2><ul><li>Five stocks we like better than Patrick Industries</li><li>Canadian Penny Stocks: Can They Make You Rich? </li><li>Workday Stock Price Implosion: An Automatic Buy for AI Investors</li><li>How to Short a Stock in 5 Easy Steps </li><li>MercadoLibre Is Soaring—Should You Wait for a Better Entry?</li><li>Procter &amp; Gamble <span>NYSE: PG<span></span></span> Pulls Back After Shaky Guidance</li><li>Doubt the Market? 3 Stocks to Rideout Fear, Uncertainty and Doubt</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9UEFUSw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9UEFUSw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Patrick Industries Right Now?</h2><p>Before you consider Patrick Industries, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Patrick Industries wasn't on the list.</p><p>While Patrick Industries currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

PATK

<p>Squarepoint Ops LLC has acquired 38,978 shares of Patrick Industries, Inc. (NASDAQ:PATK) valued at approximately $3.24 million in the 4th quarter. Other investors also increased their stakes, with significant growth from Covestor Ltd and Smartleaf Asset Management LLC. Analysts have mixed ratings on PATK, with a consensus rating of "Moderate Buy" and a price target of $96.29. Insider transactions include a purchase by Director Todd M. Cleveland and a sale by EVP Stacey L. Neu. PATK stock opened at $86.10, with a market cap of $2.88 billion.</p>

Squarepoint Ops LLC Makes New Investment in Patrick Industries, Inc. (NASDAQ:PATK)