Patrick Industries, Inc. (NASDAQ:PATK) Director Paul E. Hassler sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the sale, the director now owns 47,099 shares of the company’s stock, valued at approximately $3,532,425. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Patrick Industries, Inc. (NASDAQ PATK) traded up 2.42% during mid-day trading on Friday, reaching $76.30. The company had a trading volume of 153,917 shares. The company has a market capitalization of $1.28 billion, a PE ratio of 18.66 and a beta of 0.91. Patrick Industries, Inc. has a 1-year low of $50.80 and a 1-year high of $86.10. The firm has a 50-day moving average of $72.89 and a 200 day moving average of $71.65.
Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Patrick Industries had a return on equity of 26.46% and a net margin of 4.66%. The company had revenue of $407.20 million during the quarter, compared to analyst estimates of $384.54 million. During the same period in the prior year, the company earned $1.10 earnings per share. The firm’s revenue was up 29.2% on a year-over-year basis. On average, analysts predict that Patrick Industries, Inc. will post $4.35 earnings per share for the current fiscal year.
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A number of analysts recently weighed in on PATK shares. Zacks Investment Research upgraded Patrick Industries from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Tuesday, May 23rd. Wells Fargo & Company restated a “market perform” rating and issued a $75.00 target price (up previously from $72.00) on shares of Patrick Industries in a research report on Monday, June 19th. Finally, BidaskClub upgraded Patrick Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Patrick Industries has an average rating of “Hold” and an average target price of $77.75.
Several large investors have recently bought and sold shares of PATK. Public Employees Retirement System of Ohio lifted its stake in shares of Patrick Industries by 2.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 84,005 shares of the construction company’s stock valued at $5,956,000 after purchasing an additional 1,877 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Patrick Industries by 12.1% in the 1st quarter. Nuveen Asset Management LLC now owns 6,329 shares of the construction company’s stock valued at $449,000 after purchasing an additional 682 shares during the last quarter. GW&K Investment Management LLC bought a new stake in shares of Patrick Industries in the 2nd quarter valued at approximately $22,840,000. State of Alaska Department of Revenue lifted its stake in shares of Patrick Industries by 78.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,132 shares of the construction company’s stock valued at $228,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new stake in shares of Patrick Industries in the 2nd quarter valued at approximately $226,000. 89.83% of the stock is owned by institutional investors and hedge funds.
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.
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