November 30, 2016 - By Michael Collier
Jeffrey Gendell, an insider of Patrick Industries Inc, currently director lately disclosed a huge sale with the SEC. As disclosed in the form, Jeffrey Gendell purchased 11,153 shares of the public company, priced at $69.8 per share. $778,915 USD was the sale’s value. The SEC report’s date was 29-11-2016. In the last 30 days, he also unloaded 28,247 shares worth total $1,954,635 USD. The probability of this sell remaining hidden is nil because it’s sizable one, with Jeffrey Gendell now owning 1.02 million shares —- that is 6.30% of the Company’s total stock market value.
Out of 2 analysts covering Patrick Industries (NASDAQ:PATK), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Patrick Industries has been the topic of 3 analyst reports since March 31, 2016 according to StockzIntelligence Inc. The stock of Patrick Industries, Inc. (NASDAQ:PATK) has “Buy” rating given on Thursday, June 16 by Sidoti. The company was upgraded on Wednesday, August 17 by CL King. As per Thursday, March 31, the company rating was downgraded by CL King.
Insitutional Activity: The institutional sentiment decreased to 1.35 in 2016 Q2. Its down 0.28, from 1.63 in 2016Q1. The ratio fall, as 12 funds sold all Patrick Industries, Inc. shares owned while 42 reduced positions. 32 funds bought stakes while 56 increased positions. They now own 13.07 million shares or 3.13% more from 12.67 million shares in 2016Q1.
Mycio Wealth Prtnrs Limited Liability Company last reported 0% of its portfolio in the stock. Ladenburg Thalmann Financial reported 642 shares or 0% of all its holdings. Springbok Cap Mgmt Limited Liability Corporation, a New York-based fund reported 2,800 shares. Hood River Mgmt Limited reported 44,516 shares or 0.36% of all its holdings. Alpine Woods Capital Ltd owns 10,892 shares or 0.04% of their US portfolio. Stifel Financial Corporation holds 0.04% or 145,602 shares in its portfolio. The California-based Neumeier Poma Inv Counsel Ltd Liability Co has invested 3.76% in Patrick Industries, Inc. (NASDAQ:PATK). Morgan Stanley last reported 101,258 shares in the company. Ameriprise Financial Incorporated has 0% invested in the company for 28,845 shares. Gsa Capital Prtn Ltd Liability Partnership accumulated 0.1% or 31,449 shares. Amp Limited holds 0% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK) for 4,200 shares. First Mercantile Tru holds 0.01% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK) for 1,250 shares. Oberweis Asset Mgmt last reported 1.13% of its portfolio in the stock. Gotham Asset Lc has 0.03% invested in the company for 46,618 shares. Teacher Retirement Of Texas holds 0% or 1,855 shares in its portfolio.
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 11 sales for $19.27 million net activity. Shares for $260,153 were sold by NEMETH ANDY L. 2,000 shares were sold by WELLS WALTER E, worth $125,670 on Wednesday, August 3. On Wednesday, June 29 Cleveland Todd M sold $1.19 million worth of the stock or 20,000 shares. $128,315 worth of Patrick Industries, Inc. (NASDAQ:PATK) was sold by Forbes John A on Monday, August 22. 175,000 shares were sold by GENDELL JEFFREY L ET AL, worth $11.17M on Wednesday, August 17. 29,000 shares with value of $1.78M were sold by TONTINE CAPITAL PARTNERS L P on Friday, August 12. Cerulli Joseph M also sold $133,947 worth of Patrick Industries, Inc. (NASDAQ:PATK) on Thursday, November 17.
The stock increased 5.50% or $3.75 during the last trading session, hitting $71.9. About 252,833 shares traded hands or 141.75% up from the average. Patrick Industries, Inc. (NASDAQ:PATK) has risen 43.23% since April 26, 2016 and is uptrending. It has outperformed by 37.97% the S&P500.
Patrick Industries, Inc. is a maker of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industries. The company has a market cap of $1.07 billion. The Firm operates in two divisions: Manufacturing and Distribution. It has a 20.76 P/E ratio. The Company’s manufacturing segment’s lamination activities utilizes various materials, such as lauan, medium density fiberboard (MDF), gypsum, and particleboard, which are bonded by adhesives or a heating process to a number of products, including vinyl, paper, foil and high-pressure laminates.
According to Zacks Investment Research, “PATRICK INDUSTRIES, INC. is a manufacturer and supplier of building products and materials to the manufactured housing and recreational vehicle industries. In addition, they are expanding as a supplier to certain other industrial markets, such as furniture manufacturing, marine and the automotive aftermarket. They manufacture decorative vinyl and paper panels, cabinet doors, countertops, aluminum extrusions, drawer sides and wood adhesives.”
Analysts await Patrick Industries, Inc. (NASDAQ:PATK) to report earnings on February, 16.
More notable recent Patrick Industries, Inc. (NASDAQ:PATK) news were published by: Prnewswire.com which released: “Patrick Industries, Inc. Completes Acquisition of BH Electronics, Inc.” on August 01, 2016, also Prnewswire.com with their article: “Patrick Industries, Inc. Reports Second Quarter and Six Months 2016 Financial ..” published on July 28, 2016, Prnewswire.com published: “Patrick Industries, Inc. Completes Acquisition of Parkland Plastics, Inc.” on February 29, 2016. More interesting news about Patrick Industries, Inc. (NASDAQ:PATK) were released by: Prnewswire.com and their article: “Patrick Industries, Inc. Completes Acquisition of The Progressive Group” published on March 03, 2016 as well as Prnewswire.com‘s news article titled: “Patrick Industries, Inc. Completes Acquisition of Cana Holdings, Inc.” with publication date: May 23, 2016.
Patrick Industries, Inc. (Patrick), incorporated on January 3, 1961, is a maker of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industries. In addition, the Company 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. The Firm operates in two divisions: Manufacturing and Distribution. The Firm makes a range of products, which include decorative vinyl and paper laminated panels, fabricated aluminum products, wrapped vinyl, paper and hardwood profile moldings, solid surface, granite and quartz countertops, cabinet doors and components, hardwood furniture, fiberglass bath and shower fixtures, fiberglass and plastic component products, including front and rear caps and marine helms, slide-out trim and fascia, interior passage doors, RV painting, simulated wood and stone products, and slotwall panels and components, among others.
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