Patrick Industries CEO Andy Nemeth Sells 20,000 Shares
On December 19, 2023, Andy Nemeth, CEO of Patrick Industries Inc (NASDAQ:PATK), sold 20,000 shares of the company's stock, according to a recent SEC Filing. Over the past year, the insider has sold a total of 89,990 shares and has not made any purchases of the company's stock.
Patrick Industries Inc is a manufacturer and distributor of component products and building materials serving the recreational vehicle, marine, manufactured housing, and various industrial markets such as hospitality, institutional, and commercial. The company operates through two segments: Manufacturing and Distribution.
The insider transaction history for Patrick Industries Inc shows a trend of insider sales with 22 recorded over the past year and no insider buys during the same period.
Shares of Patrick Industries Inc were trading at $97 on the day of the insider's recent sale, giving the company a market cap of $2.207 billion. The price-earnings ratio of the stock is 14.71, which is lower than the industry median of 18.48 but higher than the company's historical median price-earnings ratio.
With a trading price of $97 and a GuruFocus Value of $69.40, Patrick Industries Inc has a price-to-GF-Value ratio of 1.4, indicating that the stock is Significantly Overvalued based on its GF Value.
The GF Value is an intrinsic value estimate that takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
