Patrick Industries, Inc. (NASDAQ:PATK) CEO Todd M. Cleveland sold 1,065 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $73.01, for a total value of $77,755.65. Following the sale, the chief executive officer now owns 390,792 shares of the company’s stock, valued at approximately $28,531,723.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Patrick Industries, Inc. (NASDAQ:PATK) traded down 1.76% during trading on Friday, hitting $72.70. The company had a trading volume of 46,826 shares. The stock has a 50-day moving average of $72.81 and a 200 day moving average of $72.06. Patrick Industries, Inc. has a one year low of $50.80 and a one year high of $86.10. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 17.78 and a beta of 0.92.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.12. The business had revenue of $407.20 million during the quarter, compared to analysts’ expectations of $384.54 million. Patrick Industries had a return on equity of 26.46% and a net margin of 4.66%. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. Equities analysts forecast that Patrick Industries, Inc. will post $4.34 EPS for the current fiscal year.

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Several analysts recently weighed in on PATK shares. Zacks Investment Research upgraded Patrick Industries from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, May 23rd. BidaskClub upgraded Patrick Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Patrick Industries in a research report on Monday, June 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Patrick Industries has a consensus rating of “Buy” and an average price target of $77.75.

A number of large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in Patrick Industries by 2.3% in the first quarter. Public Employees Retirement System of Ohio now owns 84,005 shares of the construction company’s stock valued at $5,956,000 after buying an additional 1,877 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Patrick Industries by 12.1% in the first quarter. Nuveen Asset Management LLC now owns 6,329 shares of the construction company’s stock valued at $449,000 after buying an additional 682 shares during the period. GW&K Investment Management LLC bought a new position in shares of Patrick Industries during the second quarter valued at about $22,840,000. State of Alaska Department of Revenue increased its position in shares of Patrick Industries by 78.0% in the second quarter. State of Alaska Department of Revenue now owns 3,132 shares of the construction company’s stock valued at $228,000 after buying an additional 1,372 shares during the period. Finally, Eqis Capital Management Inc. bought a new position in shares of Patrick Industries during the second quarter valued at about $226,000. Hedge funds and other institutional investors own 89.87% of the company’s stock.

About Patrick Industries

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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