Courtney Blosser Sells 6,000 Shares of Patrick Industries, Inc. (PATK) Stock
Patrick Industries, Inc. (NASDAQ:PATK) insider Courtney Blosser sold 6,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $101.28, for a total transaction of $607,680.00. Following the completion of the transaction, the insider now owns 28,214 shares of the company’s stock, valued at $2,857,513.92. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Patrick Industries, Inc. (NASDAQ:PATK) traded down $1.10 during midday trading on Monday, reaching $98.00. 110,354 shares of the company’s stock traded hands, compared to its average volume of 118,724. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.72. Patrick Industries, Inc. has a 1-year low of $60.10 and a 1-year high of $102.95. The company has a market cap of $1,667.05, a price-to-earnings ratio of 22.68, a PEG ratio of 2.07 and a beta of 0.99.
Patrick Industries’s stock is going to split on Monday, December 11th. The 3-2 split was announced on Thursday, November 9th. The newly issued shares will be payable to shareholders after the closing bell on Friday, December 8th.
PATK has been the subject of several research reports. Zacks Investment Research lowered shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Robert W. Baird restated a “buy” rating on shares of Patrick Industries in a report on Thursday, October 12th. Finally, Bank of America upped their price objective on shares of Patrick Industries from $85.00 to $93.00 and gave the stock a “buy” rating in a report on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.50.
Several institutional investors have recently modified their holdings of PATK. Teachers Advisors LLC increased its stake in shares of Patrick Industries by 640.0% in the 2nd quarter. Teachers Advisors LLC now owns 195,788 shares of the construction company’s stock worth $14,263,000 after acquiring an additional 169,329 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Patrick Industries by 140.1% in the 3rd quarter. Victory Capital Management Inc. now owns 160,111 shares of the construction company’s stock worth $13,465,000 after acquiring an additional 93,421 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Patrick Industries in the 2nd quarter worth about $5,240,000. Neuberger Berman Group LLC increased its stake in shares of 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 acquiring an additional 49,035 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of Patrick Industries in the 2nd quarter worth about $3,548,000. Institutional investors own 89.33% of the company’s stock.
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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.
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