Patrick Industries, Inc. (NASDAQ:PATK) Director Jeffrey L. Et Al Gendell sold 16,058 shares of Patrick Industries stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $85.04, for a total transaction of $1,365,572.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Patrick Industries, Inc. (NASDAQ:PATK) opened at 84.60 on Friday. The firm’s 50-day moving average is $76.64 and its 200-day moving average is $72.41. Patrick Industries, Inc. has a 12-month low of $50.80 and a 12-month high of $87.90. The stock has a market capitalization of $1.42 billion, a P/E ratio of 20.68 and a beta of 0.89.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. Patrick Industries had a return on equity of 26.46% and a net margin of 4.66%. The firm had revenue of $407.20 million during the quarter, compared to the consensus estimate of $384.54 million. During the same period last year, the company earned $1.10 earnings per share. The company’s revenue was up 29.2% on a year-over-year basis. Analysts predict that Patrick Industries, Inc. will post $4.35 EPS for the current fiscal year.

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Several large investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Patrick Industries by 1.1% during the second quarter. Royal Bank of Canada now owns 1,665,617 shares of the construction company’s stock valued at $121,340,000 after acquiring an additional 18,443 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Patrick Industries by 3.2% during the second quarter. Vanguard Group Inc. now owns 812,130 shares of the construction company’s stock valued at $59,164,000 after acquiring an additional 24,830 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Patrick Industries by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 672,959 shares of the construction company’s stock valued at $49,026,000 after acquiring an additional 15,321 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Patrick Industries by 10.6% during the second quarter. Neuberger Berman Group LLC now owns 510,710 shares of the construction company’s stock valued at $37,205,000 after acquiring an additional 49,035 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Patrick Industries by 8.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 400,000 shares of the construction company’s stock valued at $29,140,000 after acquiring an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

A number of equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub downgraded shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Wells Fargo & Company reaffirmed 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $80.75.

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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