Patrick Industries, Inc. (PATK) EVP Jeff Rodino Sells 3,511 Shares
Patrick Industries, Inc. (NASDAQ:PATK) EVP Jeff Rodino sold 3,511 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $102.22, for a total transaction of $358,894.42. Following the completion of the sale, the executive vice president now owns 75,315 shares in the company, valued at $7,698,699.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Patrick Industries, Inc. (NASDAQ PATK) traded down $0.30 during mid-day trading on Wednesday, hitting $97.30. 63,366 shares of the stock were exchanged, compared to its average volume of 118,446. Patrick Industries, Inc. has a twelve month low of $60.10 and a twelve month high of $102.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.23 and a quick ratio of 1.00. The firm has a market capitalization of $1,648.54, a price-to-earnings ratio of 22.43, a P/E/G ratio of 2.05 and a beta of 0.99.
Patrick Industries’s stock is set to split before the market opens on Monday, December 11th. The 3-2 split was announced on Thursday, November 9th. The newly issued shares will be payable 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.15. Patrick Industries had a net margin of 4.73% and a return on equity of 24.60%. The firm had revenue of $407.50 million for the quarter, compared to the consensus estimate of $371.98 million. During the same period in the previous year, the firm posted $0.79 earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. equities research analysts predict that Patrick Industries, Inc. will post 4.53 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its position in Patrick Industries by 13.7% during the third quarter. GSA Capital Partners LLP now owns 20,980 shares of the construction company’s stock valued at $1,764,000 after purchasing an additional 2,530 shares in the last quarter. Algert Global LLC grew its position in Patrick Industries by 26.3% during the third quarter. Algert Global LLC now owns 35,155 shares of the construction company’s stock valued at $2,957,000 after purchasing an additional 7,329 shares in the last quarter. California Public Employees Retirement System grew its position in Patrick Industries by 3.3% during the third quarter. California Public Employees Retirement System now owns 34,103 shares of the construction company’s stock valued at $2,868,000 after purchasing an additional 1,103 shares in the last quarter. Stifel Financial Corp grew its position in Patrick Industries by 6.8% during the third quarter. Stifel Financial Corp now owns 228,182 shares of the construction company’s stock valued at $19,189,000 after purchasing an additional 14,565 shares in the last quarter. Finally, OxFORD Asset Management LLP grew its position in Patrick Industries by 199.6% during the third quarter. OxFORD Asset Management LLP now owns 36,504 shares of the construction company’s stock valued at $3,063,000 after purchasing an additional 24,318 shares in the last quarter. 89.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on PATK shares. Zacks Investment Research lowered shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Bank of America boosted their price target on shares of Patrick Industries from $85.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Finally, Robert W. Baird restated a “buy” rating on shares of Patrick Industries in a report on Thursday, October 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $84.50.
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.
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.