Insider Selling: Patrick Industries Inc. (PATK) Director Sells 28,247 Shares of Stock
Patrick Industries Inc. (NASDAQ:PATK) Director Jeffrey L. Et Al Gendell sold 28,247 shares of Patrick Industries stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $69.20, for a total value of $1,954,692.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Patrick Industries Inc. (NASDAQ:PATK) opened at 69.90 on Friday. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 20.27 and a beta of 1.22. The firm’s 50-day moving average price is $61.55 and its 200-day moving average price is $60.16. Patrick Industries Inc. has a 12 month low of $29.28 and a 12 month high of $70.00.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The company had revenue of $304.20 million for the quarter, compared to analyst estimates of $280.60 million. Patrick Industries had a return on equity of 35.44% and a net margin of 4.60%. The company’s quarterly revenue was up 41.6% on a year-over-year basis. On average, equities analysts anticipate that Patrick Industries Inc. will post $3.59 earnings per share for the current year.
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Separately, CL King raised Patrick Industries from a “neutral” rating to a “buy” rating in a research note 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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