Patrick Industries, Inc. (NASDAQ:PATK) Director Paul E. Hassler sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the transaction, the director now directly owns 47,099 shares in the company, valued at approximately $3,532,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Patrick Industries, Inc. (PATK) traded down 1.97% during trading on Thursday, hitting $74.60. The company had a trading volume of 38,866 shares. The company’s 50 day moving average price is $72.84 and its 200-day moving average price is $71.68. Patrick Industries, Inc. has a 12 month low of $50.80 and a 12 month high of $86.10. The company has a market cap of $1.26 billion, a PE ratio of 18.24 and a beta of 0.91.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $1.28 earnings per share for the quarter, beating 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 business had revenue of $407.20 million during the quarter, compared to the consensus estimate of $384.54 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. Equities analysts expect that Patrick Industries, Inc. will post $4.35 earnings per share for the current year.

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Several large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of 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 during the last quarter. Vanguard Group Inc. grew its position in Patrick Industries by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 812,130 shares of the construction company’s stock worth $59,164,000 after purchasing an additional 24,830 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Patrick Industries by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 672,959 shares of the construction company’s stock worth $49,026,000 after purchasing an additional 15,321 shares during the last quarter. Neuberger Berman Group LLC grew its position in Patrick Industries by 10.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 510,710 shares of the construction company’s stock worth $37,205,000 after purchasing an additional 49,035 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Patrick Industries by 8.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 400,000 shares of the construction company’s stock worth $29,140,000 after purchasing an additional 30,000 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

PATK has been the topic of a number of research reports. Zacks Investment Research lowered Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub raised Patrick Industries from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $75.00 price target (up previously from $72.00) on shares of Patrick Industries in a report on Monday, June 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $77.75.

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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