Insider Selling: Patrick Industries, Inc. (PATK) Director Sells 3,223 Shares of Stock

Patrick Industries, Inc. (NASDAQ:PATK) Director Joseph M. Cerulli sold 3,223 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $97.64, for a total value of $314,693.72. Following the transaction, the director now owns 25,237 shares in the company, valued at approximately $2,464,140.68. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of Patrick Industries, Inc. (NASDAQ PATK) traded up $0.40 during mid-day trading on Thursday, reaching $97.70. The company’s stock had a trading volume of 58,353 shares, compared to its average volume of 118,178. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.72. The stock has a market cap of $1,641.82, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.04 and a beta of 0.99. Patrick Industries, Inc. has a 12 month low of $60.10 and a 12 month high of $102.95.

Patrick Industries’s stock is going to split on Monday, December 11th. The 3-2 split was announced on Thursday, November 9th. The newly created shares will be issued to shareholders after the market closes on Friday, December 8th.

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

A number of research analysts have recently issued reports on PATK shares. Zacks Investment Research lowered Patrick Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Robert W. Baird reiterated a “buy” rating on shares of Patrick Industries in a research report on Thursday, October 12th. Finally, Bank of America increased their target price on 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 given a buy rating to the stock. Patrick Industries has an average rating of “Buy” and an average target price of $84.50.

A number of hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. lifted its holdings in Patrick Industries by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,879 shares of the construction company’s stock valued at $501,000 after purchasing an additional 18 shares in the last quarter. Texas Permanent School Fund lifted its holdings in Patrick Industries by 0.6% in the 2nd quarter. Texas Permanent School Fund now owns 11,624 shares of the construction company’s stock valued at $847,000 after purchasing an additional 71 shares in the last quarter. Aperio Group LLC lifted its holdings in Patrick Industries by 2.9% in the 2nd quarter. Aperio Group LLC now owns 3,064 shares of the construction company’s stock valued at $223,000 after purchasing an additional 85 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Patrick Industries by 0.3% in the 2nd quarter. California Public Employees Retirement System now owns 33,000 shares of the construction company’s stock valued at $2,404,000 after purchasing an additional 100 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Patrick Industries by 13.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,421 shares of the construction company’s stock valued at $104,000 after purchasing an additional 168 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.

Insider Buying and Selling by Quarter for Patrick Industries (NASDAQ:PATK)

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