Steamboat Capital Partners Lowers stake in Patrick Industries (PATK)

Patrick Industries (PATK) : Steamboat Capital Partners reduced its stake in Patrick Industries by 8.37% during the most recent quarter end. The investment management company now holds a total of 211,852 shares of Patrick Industries which is valued at $12,997,120 after selling 19,354 shares in Patrick Industries , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Patrick Industries makes up approximately 10.43% of Steamboat Capital Partners’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp reduced its stake in PATK by selling 20,400 shares or 38.6% in the most recent quarter. The Hedge Fund company now holds 32,450 shares of PATK which is valued at $1,990,808. Patrick Industries makes up approx 0.01% of Two Sigma Advisers Lp’s portfolio. Menta Capital added PATK to its portfolio by purchasing 14,700 company shares during the most recent quarter which is valued at $901,845. Patrick Industries makes up approx 0.12% of Menta Capital’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in PATK in the latest quarter, The investment management firm added 1,531 additional shares and now holds a total of 9,714 shares of Patrick Industries which is valued at $618,102. Wedge Capital Management L L Pnc added PATK to its portfolio by purchasing 184,643 company shares during the most recent quarter which is valued at $11,920,552. Patrick Industries makes up approx 0.13% of Wedge Capital Management L L Pnc’s portfolio. 1st Global Advisors added PATK to its portfolio by purchasing 7,359 company shares during the most recent quarter which is valued at $472,448. Patrick Industries makes up approx 0.06% of 1st Global Advisors’s portfolio.

Patrick Industries opened for trading at $63.96 and hit $64.75 on the upside on Thursday, eventually ending the session at $64.56, with a gain of 0.83% or 0.53 points. The heightened volatility saw the trading volume jump to 1,29,215 shares. Company has a market cap of $989 M.

On the company’s financial health, Patrick Industries reported $1.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $315.20 million for the quarter, compared to analysts expectations of $292.68 million. The company’s revenue was up 35.0% compared to the same quarter last year.

Many Wall Street Analysts have commented on Patrick Industries. Patrick Industries was Upgraded by CL King to ” Buy” on Aug 17, 2016. Patrick Industries was Initiated by Sidoti to “Buy” on Jun 16, 2016.

Patrick Industries Inc. is a manufacturer of component products and distributor of building products and materials for the recreational vehicle and manufactured housing industries. 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. The Company operates in two segments: Manufacturing and Distribution. The Company manufactures a variety of products including decorative vinyl and paper laminated panels fabricated aluminum products wrapped vinyl paper and hardwood profile moldings solid surface granite and quartz countertops cabinet doors and components hardwood furniture fiberglass bath and shower fixtures fiberglass and plastic component products including front and rear caps and marine helms slide-out trim and fascia interior passage doors exterior graphics and RV painting and slotwall panels and components among others.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *