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 firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $101.28, for a total transaction of $607,680.00. Following the transaction, the insider now directly owns 28,214 shares in the company, valued at approximately $2,857,513.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Patrick Industries, Inc. (NASDAQ:PATK) opened at $97.60 on Wednesday. Patrick Industries, Inc. has a 1-year low of $60.10 and a 1-year high of $102.95. The firm has a market cap of $1,667.05, a PE ratio of 22.68, a PEG ratio of 2.07 and a beta of 0.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.23 and a quick ratio of 1.00.
Patrick Industries shares are going to split on the morning of Monday, December 11th. The 3-2 split was announced on Thursday, November 9th. The newly created shares will be issued to shareholders after the market closes on Friday, December 8th.
Patrick Industries (NASDAQ:PATK) last released its quarterly earnings results on Thursday, October 26th. The construction company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.15. Patrick Industries had a net margin of 4.73% and a return on equity of 24.60%. The business had revenue of $407.50 million for the quarter, compared to analysts’ expectations of $371.98 million. During the same period last year, the business earned $0.79 EPS. The company’s revenue was up 34.0% compared to the same quarter last year. sell-side analysts predict that Patrick Industries, Inc. will post 4.53 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in PATK. Aperio Group LLC boosted its holdings in shares of Patrick Industries by 2.9% in the 2nd quarter. Aperio Group LLC now owns 3,064 shares of the construction company’s stock valued at $223,000 after buying an additional 85 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Patrick Industries by 13.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,760 shares of the construction company’s stock valued at $274,000 after buying an additional 450 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Patrick Industries by 3.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 22,980 shares of the construction company’s stock valued at $1,673,000 after buying an additional 750 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in shares of Patrick Industries in the 2nd quarter valued at about $437,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of 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 valued at $29,140,000 after buying an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 89.33% of the company’s stock.
PATK has been the topic of a number of research reports. Zacks Investment Research raised shares of Patrick Industries from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Tuesday, August 22nd. Bank of America raised their target price on shares of Patrick Industries from $85.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Robert W. Baird reissued a “buy” rating on shares of Patrick Industries in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Patrick Industries has an average rating of “Buy” and a consensus price target of $84.50.
TRADEMARK VIOLATION WARNING: This news story was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://theolympiareport.com/2017/12/06/courtney-blosser-sells-6000-shares-of-patrick-industries-inc-patk-stock.html.
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.
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 Analyst Ratings Network's FREE daily email newsletter.