Insider Selling: Patrick Industries Inc. (PATK) President Sells 6,000 Shares of Stock
Patrick Industries Inc. (NASDAQ:PATK) President Andy L. Nemeth sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $67.00, for a total value of $402,000.00. Following the transaction, the president now directly owns 61,210 shares in the company, valued at approximately $4,101,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Patrick Industries Inc. (NASDAQ:PATK) opened at 66.95 on Friday. The company has a market cap of $1.03 billion, a PE ratio of 19.42 and a beta of 1.22. Patrick Industries Inc. has a 1-year low of $29.28 and a 1-year high of $69.53. The stock’s 50 day moving average price is $60.74 and its 200-day moving average price is $59.33.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Patrick Industries had a return on equity of 35.44% and a net margin of 4.60%. The company had revenue of $304.20 million for the quarter, compared to analysts’ expectations of $280.60 million. Patrick Industries’s revenue was up 41.6% on a year-over-year basis. On average, analysts forecast that Patrick Industries Inc. will post $3.59 earnings per share for the current year.
Separately, CL King raised Patrick Industries from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 17th.
About Patrick Industries
Patrick Industries, Inc (Patrick) is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industries. The Company operates in two segments: Manufacturing and Distribution. The Company’s manufacturing segment’s lamination operations utilizes various materials, such as lauan, medium density fiberboard (MDF), gypsum, and particleboard, which are bonded by adhesives or a heating process to a number of products, including vinyl, paper, foil and high-pressure laminates.
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