Patrick Industries Inc. (PATK) Director Sells $778,925.52 in Stock
Patrick Industries Inc. (NASDAQ:PATK) Director Jeffrey L. Et Al Gendell sold 11,153 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $69.84, for a total value of $778,925.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Patrick Industries Inc. (NASDAQ:PATK) traded up 5.50% during midday trading on Tuesday, hitting $71.90. The company had a trading volume of 252,833 shares. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 20.85 and a beta of 1.22. Patrick Industries Inc. has a one year low of $29.28 and a one year high of $72.85. The stock’s 50-day moving average price is $61.72 and its 200-day moving average price is $60.50.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.79 EPS for the quarter, topping the Zacks’ 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 analyst estimates of $280.60 million. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. Analysts predict that Patrick Industries Inc. will post $3.59 EPS 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.
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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