Patrick Industries, Inc. (NASDAQ:PATK) Director Walter E. Wells sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $72.12, for a total value of $216,360.00. Following the completion of the sale, the director now owns 44,240 shares of the company’s stock, valued at $3,190,588.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Patrick Industries, Inc. (NASDAQ PATK) traded up 0.98% during midday trading on Friday, reaching $72.45. The company had a trading volume of 66,030 shares. The company’s 50-day moving average is $73.84 and its 200 day moving average is $73.22. The company has a market cap of $1.22 billion, a PE ratio of 17.71 and a beta of 0.92. Patrick Industries, Inc. has a 52-week low of $50.80 and a 52-week high of $86.10.

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

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinebridge Investments L.P. boosted its position in shares of Patrick Industries by 10.0% in the second quarter. Pinebridge Investments L.P. now owns 2,097 shares of the construction company’s stock valued at $153,000 after buying an additional 191 shares during the period. Advisor Group Inc. boosted its position in shares of Patrick Industries by 12.1% in the second quarter. Advisor Group Inc. now owns 2,296 shares of the construction company’s stock valued at $168,000 after buying an additional 247 shares during the period. Pacad Investment Ltd. boosted its position in shares of Patrick Industries by 76.9% in the second quarter. Pacad Investment Ltd. now owns 2,300 shares of the construction company’s stock valued at $168,000 after buying an additional 1,000 shares during the period. UBS Asset Management Americas Inc. bought a new position in shares of Patrick Industries during the second quarter valued at approximately $202,000. Finally, SG Americas Securities LLC bought a new position in shares of Patrick Industries during the second quarter valued at approximately $204,000. 90.97% of the stock is owned by hedge funds and other institutional investors.

PATK has been the subject of several analyst reports. Bank of America Corporation initiated coverage on Patrick Industries in a report on Monday, April 17th. They issued a “buy” rating and a $80.00 target price for the company. Robert W. Baird initiated coverage on Patrick Industries in a report on Friday, April 21st. They issued an “outperform” rating and a $74.00 target price for the company. BidaskClub upgraded Patrick Industries from a “hold” rating to a “buy” rating in a report on Friday, June 9th. 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 report on Tuesday, May 23rd. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $75.00 target price (up from $72.00) on shares of Patrick Industries in a report on Monday, June 19th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.00.

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)

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