5 Best RV and Camping Stocks to Buy Now

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1. Patrick Industries, Inc. (NASDAQ:PATK)

Number of Hedge Fund Holders: 21

Patrick Industries, Inc. (NASDAQ:PATK) manufactures and sells appliances, furnishing, and fixture services for recreational vehicles and marine manufactured housing. As of November 1, the company has a dividend yield of 2.89% at an annualized rate of $1.32. Furthermore, Patrick Industries, Inc. (NASDAQ:PATK) returned $7 million to its shareholders through buybacks in the third quarter of 2022.

For Q3 2022, Patrick Industries, Inc. (NASDAQ:PATK) recorded a 5% increase in net sales to $1.11 billion despite a decline of 40% in RV OEM shipments. According to the management, the acquisitions of Williamsburg Furniture in 2021 and Diamondback Marine and Rockford Fosgate purchases in 2022 were responsible for offsetting the $110 million decline in RV revenues. Patrick Industries, Inc. (NASDAQ:PATK) also reported a 2% YoY increase in net income to $59 million and a 14% increase in gross profit to $236 million.

According to our database, 21 hedge funds held a position in Patrick Industries, Inc. (NASDAQ:PATK) at the end of Q2 2022, compared to 20 in the previous quarter. Millennium Management increased its holdings by a staggering 909% and was the most significant shareholder in the company. The firm owned 384,664 million company shares, worth $19.941 million.

You can also take a look at the 12 Best Hemp Stocks To Buy Now and 11 Best Cruise Stocks To Buy Right Now

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