Patrick Industries, Inc. (NASDAQ:PATK) Director Paul E. Hassler sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the director now directly owns 52,811 shares of the company’s stock, valued at $3,960,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Patrick Industries, Inc. (PATK) traded down 1.76% during mid-day trading on Friday, reaching $72.70. 46,826 shares of the company traded hands. Patrick Industries, Inc. has a 52 week low of $50.80 and a 52 week high of $86.10. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 17.78 and a beta of 0.92. The firm has a 50-day moving average price of $72.81 and a 200 day moving average price of $72.06.

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

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Several research firms have recently weighed in on PATK. Wells Fargo & Company reissued a “market perform” rating and set a $75.00 price objective (up from $72.00) on shares of Patrick Industries in a report on Monday, June 19th. BidaskClub raised shares of Patrick Industries from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Zacks Investment Research upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Patrick Industries has an average rating of “Buy” and an average price target of $77.75.

A number of institutional investors have recently bought and sold shares of PATK. Ameritas Investment Partners Inc. raised its position in Patrick Industries by 13.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,421 shares of the construction company’s stock worth $104,000 after buying an additional 168 shares in the last quarter. Pinebridge Investments L.P. raised its position in 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. Pacad Investment Ltd. raised its position in 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. Advisor Group Inc. raised its position in 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. Finally, UBS Asset Management Americas Inc. purchased a new position in Patrick Industries during the second quarter valued at $202,000. 89.87% of the stock is owned by institutional investors.

About Patrick Industries

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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