Patrick Industries, Inc. (PATK) Insider Courtney Blosser Sells 2,993 Shares

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Patrick Industries, Inc. (NASDAQ:PATK) insider Courtney Blosser sold 2,993 shares of the company’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $36.04, for a total transaction of $107,867.72. Following the transaction, the insider now owns 39,372 shares in the company, valued at approximately $1,418,966.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of NASDAQ:PATK traded down $0.94 during trading on Friday, hitting $35.17. The company’s stock had a trading volume of 378,789 shares, compared to its average volume of 236,587. Patrick Industries, Inc. has a 12 month low of $34.61 and a 12 month high of $72.35. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $866.89 million, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings data on Thursday, October 25th. The construction company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. Patrick Industries had a net margin of 5.52% and a return on equity of 28.73%. The firm had revenue of $575.14 million for the quarter, compared to analysts’ expectations of $565.23 million. Analysts expect that Patrick Industries, Inc. will post 4.68 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on PATK shares. BidaskClub upgraded shares of Patrick Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine cut shares of Patrick Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut shares of Patrick Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, Sidoti lowered their price objective on shares of Patrick Industries from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.50.

Large investors have recently modified their holdings of the company. Essex Investment Management Co. LLC increased its holdings in Patrick Industries by 3.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 47,602 shares of the construction company’s stock worth $2,818,000 after acquiring an additional 1,511 shares in the last quarter. Bank of America Corp DE increased its holdings in Patrick Industries by 28.8% in the 2nd quarter. Bank of America Corp DE now owns 531,534 shares of the construction company’s stock worth $30,217,000 after acquiring an additional 118,734 shares in the last quarter. Globeflex Capital L P increased its holdings in Patrick Industries by 71.5% in the 2nd quarter. Globeflex Capital L P now owns 38,150 shares of the construction company’s stock worth $2,169,000 after acquiring an additional 15,900 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Patrick Industries by 3.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 593,889 shares of the construction company’s stock worth $35,158,000 after acquiring an additional 20,554 shares in the last quarter. Finally, HRT Financial LLC purchased a new stake in Patrick Industries in the 2nd quarter worth approximately $389,000. Hedge funds and other institutional investors own 91.65% of the company’s stock.

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

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