Patrick Industries, Inc. (NASDAQ:PATK) CEO Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $86.26, for a total value of $862,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Patrick Industries, Inc. (NASDAQ PATK) traded down 3.04% on Wednesday, hitting $84.40. The company’s stock had a trading volume of 70,505 shares. Patrick Industries, Inc. has a 12 month low of $50.80 and a 12 month high of $87.90. The firm has a 50 day moving average of $75.84 and a 200 day moving average of $72.23. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 20.64 and a beta of 0.89.

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

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PATK has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub upgraded Patrick Industries from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Wells Fargo & Company reiterated 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $80.75.

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in Patrick Industries by 9.7% during the second quarter. Legal & General Group Plc now owns 28,863 shares of the construction company’s stock valued at $2,105,000 after buying an additional 2,548 shares during the period. Neuberger Berman Group LLC increased its holdings in 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 buying an additional 49,035 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in Patrick Industries during the second quarter valued at approximately $5,240,000. Algert Global LLC increased its holdings in Patrick Industries by 386.1% during the second quarter. Algert Global LLC now owns 27,826 shares of the construction company’s stock valued at $2,027,000 after buying an additional 22,102 shares during the period. Finally, Cadence Capital Management LLC increased its holdings in Patrick Industries by 53.2% during the second quarter. Cadence Capital Management LLC now owns 23,487 shares of the construction company’s stock valued at $1,711,000 after buying an additional 8,159 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

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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