Patrick Industries, Inc. (NASDAQ:PATK) Director Jeffrey L. Et Al Gendell sold 25,000 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $89.55, for a total value of $2,238,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Patrick Industries, Inc. (PATK) opened at 92.90 on Tuesday. Patrick Industries, Inc. has a 12 month low of $50.80 and a 12 month high of $94.45. The company has a market cap of $1.56 billion, a PE ratio of 22.71 and a beta of 0.88. The firm’s 50-day moving average price is $82.81 and its 200 day moving average price is $74.79.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.15. Patrick Industries had a return on equity of 24.60% and a net margin of 4.73%. The business had revenue of $407.50 million for the quarter, compared to analyst estimates of $371.98 million. During the same quarter in the prior year, the company earned $0.79 earnings per share. The company’s revenue was up 34.0% on a year-over-year basis. Equities research analysts anticipate that Patrick Industries, Inc. will post $4.39 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was originally published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.watchlistnews.com/patrick-industries-inc-patk-director-jeffrey-l-et-al-gendell-sells-25000-shares/1667131.html.

Several institutional investors have recently bought and sold shares of PATK. Public Employees Retirement System of Ohio increased its position in shares of Patrick Industries by 2.3% during the first quarter. Public Employees Retirement System of Ohio now owns 84,005 shares of the construction company’s stock worth $5,956,000 after acquiring an additional 1,877 shares during the period. Nuveen Asset Management LLC increased its position in shares of Patrick Industries by 12.1% during the first quarter. Nuveen Asset Management LLC now owns 6,329 shares of the construction company’s stock worth $449,000 after acquiring an additional 682 shares during the period. GW&K Investment Management LLC purchased a new stake in shares of Patrick Industries during the second quarter worth $22,840,000. State of Alaska Department of Revenue increased its position in shares of Patrick Industries by 78.0% during the second quarter. State of Alaska Department of Revenue now owns 3,132 shares of the construction company’s stock worth $228,000 after acquiring an additional 1,372 shares during the period. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Patrick Industries during the second quarter worth $226,000. 89.52% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on PATK. Zacks Investment Research raised Patrick Industries from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Thursday, October 26th. Bank of America Corporation 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. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Patrick Industries in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $84.50.

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)

Receive News & Ratings for Patrick Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.