Patrick Industries, Inc. (NASDAQ:PATK) CEO Todd M. Cleveland sold 10,000 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $86.26, for a total transaction of $862,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Patrick Industries, Inc. (NASDAQ PATK) traded up 0.47% during midday trading on Friday, hitting $84.65. 48,750 shares of the company’s stock traded hands. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 20.70 and a beta of 0.89. Patrick Industries, Inc. has a 1-year low of $50.80 and a 1-year high of $87.90. The company has a 50 day moving average price of $78.74 and a 200 day moving average price of $72.95.

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

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PATK has been the topic of several research analyst reports. Robert W. Baird reaffirmed a “buy” rating on shares of Patrick Industries in a research report on Thursday. Zacks Investment Research upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Saturday, September 16th. Wells Fargo & Company reiterated a “market perform” rating and set a $75.00 price objective (up previously from $72.00) on shares of Patrick Industries in a research note on Monday, June 19th. Finally, BidaskClub lowered shares of Patrick Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Patrick Industries presently has an average rating of “Hold” and an average price target of $80.75.

Several institutional investors and hedge funds have recently bought and sold shares of PATK. Ameritas Investment Partners Inc. raised its stake in shares of Patrick Industries by 13.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,421 shares of the construction company’s stock worth $104,000 after buying an additional 168 shares during the last quarter. Pinebridge Investments L.P. raised its stake in shares of Patrick Industries by 10.0% during the second quarter. Pinebridge Investments L.P. now owns 2,097 shares of the construction company’s stock worth $153,000 after buying an additional 191 shares during the last quarter. Pacad Investment Ltd. raised its stake in shares of Patrick Industries by 76.9% during the second quarter. Pacad Investment Ltd. now owns 2,300 shares of the construction company’s stock worth $168,000 after buying an additional 1,000 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Patrick Industries by 12.1% during the second quarter. Advisor Group Inc. now owns 2,296 shares of the construction company’s stock worth $168,000 after buying an additional 247 shares during the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Patrick Industries during the second quarter worth approximately $202,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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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