Patrick Industries, Inc. (PATK) Director Paul E. Hassler Sells 10,000 Shares

Patrick Industries, Inc. (NASDAQ:PATK) Director Paul E. Hassler sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $77.00, for a total transaction of $770,000.00. Following the sale, the director now directly owns 32,911 shares in the company, valued at approximately $2,534,147. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Patrick Industries, Inc. (NASDAQ:PATK) traded down 0.32% during mid-day trading on Tuesday, reaching $77.80. 60,512 shares of the company were exchanged. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 19.02 and a beta of 0.91. The stock has a 50 day moving average of $73.03 and a 200-day moving average of $71.46. Patrick Industries, Inc. has a one year low of $50.80 and a one year high of $86.10.

Patrick Industries (NASDAQ:PATK) last released its earnings results on Thursday, July 27th. The construction company reported $1.28 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 for the quarter, compared to analysts’ expectations of $384.54 million. During the same quarter last year, the business earned $1.10 EPS. The firm’s revenue was up 29.2% compared to the same quarter last year. On average, equities analysts expect that Patrick Industries, Inc. will post $4.35 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/09/19/patrick-industries-inc-patk-director-paul-e-hassler-sells-10000-shares.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. bought a new stake in Patrick Industries during the 2nd quarter worth approximately $416,000. Dynamic Technology Lab Private Ltd bought a new stake in Patrick Industries during the 2nd quarter worth approximately $873,000. Verition Fund Management LLC bought a new stake in Patrick Industries during the 2nd quarter worth approximately $391,000. Piedmont Investment Advisors LLC bought a new stake in Patrick Industries during the 2nd quarter worth approximately $251,000. Finally, Ameritas Investment Partners Inc. raised its stake in Patrick Industries by 13.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,421 shares of the construction company’s stock worth $104,000 after acquiring an additional 168 shares during the period. Institutional investors own 89.73% of the company’s stock.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub lowered 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 target price (up previously from $72.00) on shares of Patrick Industries in a report on Monday, June 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $78.00.

Patrick Industries Company Profile

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)

Receive News & Ratings for Patrick Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply