Patrick Industries, Inc. (NASDAQ:PATK) EVP Jeff Rodino Sells 7,586 Shares of Stock
Patrick Industries, Inc. (NASDAQ:PATK) EVP Jeff Rodino sold 7,586 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $67.50, for a total transaction of $512,055.00. Following the completion of the transaction, the executive vice president now owns 102,316 shares in the company, valued at $6,906,330. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Jeff Rodino also recently made the following trade(s):
- On Thursday, July 23rd, Jeff Rodino sold 2,414 shares of Patrick Industries stock. The shares were sold at an average price of $67.50, for a total transaction of $162,945.00.
Shares of PATK stock opened at $65.94 on Friday. The firm has a fifty day moving average of $59.99 and a 200-day moving average of $48.65. The company has a quick ratio of 1.17, a current ratio of 2.32 and a debt-to-equity ratio of 1.50. Patrick Industries, Inc. has a 12-month low of $16.70 and a 12-month high of $69.84. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 14.28 and a beta of 2.48.
Several equities analysts recently weighed in on PATK shares. Bank of America upgraded shares of Patrick Industries from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $74.00 in a report on Thursday, July 16th. TheStreet raised shares of Patrick Industries from a “c+” rating to a “b” rating in a research note on Monday. KeyCorp upped their target price on shares of Patrick Industries from $47.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. ValuEngine raised shares of Patrick Industries from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Sidoti upped their target price on shares of Patrick Industries from $51.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $61.00.
Several hedge funds have recently modified their holdings of the company. State Street Corp grew its position in Patrick Industries by 3.7% in the first quarter. State Street Corp now owns 671,364 shares of the construction company’s stock valued at $18,906,000 after purchasing an additional 23,688 shares in the last quarter. Capital Research Global Investors bought a new position in Patrick Industries in the first quarter valued at $11,779,000. Geode Capital Management LLC grew its position in Patrick Industries by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 312,315 shares of the construction company’s stock valued at $16,374,000 after purchasing an additional 4,734 shares in the last quarter. Norges Bank bought a new position in Patrick Industries in the fourth quarter valued at $16,090,000. Finally, Matarin Capital Management LLC bought a new position in Patrick Industries in the first quarter valued at $6,745,000. 88.16% of the stock is owned by institutional investors.
About Patrick Industries
Patrick Industries, Inc manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, walls, countertops, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication products; RV paintings; fabricated aluminum products; decorative vinyl and paper laminated panels; fiberglass and plastic components; softwoods lumber; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument and dash panels, and other products.
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