Joseph M. Cerulli Sells 1,980 Shares of Patrick Industries Inc. (PATK) Stock
Patrick Industries Inc. (NASDAQ:PATK) Director Joseph M. Cerulli sold 1,980 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $67.65, for a total value of $133,947.00. Following the completion of the transaction, the director now owns 27,304 shares in the company, valued at $1,847,115.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Patrick Industries Inc. (NASDAQ:PATK) opened at 66.95 on Friday. Patrick Industries Inc. has a 52-week low of $29.28 and a 52-week high of $69.53. The stock has a market capitalization of $1.03 billion, a P/E ratio of 19.42 and a beta of 1.22. The company has a 50 day moving average price of $60.74 and a 200-day moving average price of $59.33.
Patrick Industries (NASDAQ:PATK) last released its earnings results on Thursday, October 27th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $304.20 million for the quarter, compared to the consensus estimate of $280.60 million. The firm’s revenue was up 41.6% on a year-over-year basis. On average, analysts predict that Patrick Industries Inc. will post $3.59 earnings per share for the current fiscal year.
Separately, CL King upgraded Patrick Industries from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 17th.
Patrick Industries Company Profile
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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