Patrick Industries, Inc. (NASDAQ:PATK) VP Joshua A. Boone sold 520 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $73.00, for a total value of $37,960.00. Following the completion of the transaction, the vice president now owns 7,445 shares of the company’s stock, valued at approximately $543,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Patrick Industries, Inc. (PATK) traded up 1.73% during midday trading on Friday, hitting $73.55. The stock had a trading volume of 66,961 shares. The stock has a market cap of $1.24 billion, a PE ratio of 17.98 and a beta of 0.91. Patrick Industries, Inc. has a 52-week low of $50.80 and a 52-week high of $86.10. The company’s 50 day moving average price is $72.69 and its 200-day moving average price is $71.80.

Patrick Industries (NASDAQ:PATK) last announced its earnings results on Thursday, July 27th. The construction company reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $407.20 million for the quarter, compared to analyst estimates of $384.54 million. During the same period in the prior year, the company posted $1.10 EPS. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. Analysts forecast that Patrick Industries, Inc. will post $4.34 EPS for the current fiscal year.

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A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Patrick Industries by 1.1% during the 2nd quarter. Royal Bank of Canada now owns 1,665,617 shares of the construction company’s stock valued at $121,340,000 after buying an additional 18,443 shares in the last quarter. Vanguard Group Inc. increased its position in Patrick Industries by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 812,130 shares of the construction company’s stock valued at $59,164,000 after buying an additional 24,830 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Patrick Industries by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 672,959 shares of the construction company’s stock valued at $49,026,000 after buying an additional 15,321 shares in the last quarter. Neuberger Berman Group LLC increased its position in Patrick Industries by 10.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 510,710 shares of the construction company’s stock valued at $37,205,000 after buying an additional 49,035 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Patrick Industries by 8.1% during the 2nd 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 buying an additional 30,000 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub cut Patrick Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $75.00 target price (up from $72.00) on shares of Patrick Industries in a research note on Monday, June 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $77.75.

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)

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