Patrick Industries Inc CEO Andy Nemeth Sells 5,000 Shares
On March 1, 2024, CEO Andy Nemeth executed a sale of 5,000 shares of Patrick Industries Inc (NASDAQ:PATK), according to a recent SEC Filing. The transaction was carried out at an average price of $118 per share, resulting in a total value of $590,000.
Patrick Industries Inc is a major manufacturer and distributor of component products and building materials serving the recreational vehicle, manufactured housing, and industrial markets. The company's offerings include decorative vinyl and paper laminated panels, countertops, wrapped profile mouldings, cabinet doors and components, hardwood furniture, fiberglass bath fixtures, and tile systems, among others.
Over the past year, the insider has sold a total of 109,990 shares and has not made any purchases of the company's stock. The recent sale by CEO Andy Nemeth is part of a broader trend observed within the company, where there have been 25 insider sells and no insider buys over the past year.
Shares of Patrick Industries Inc were trading at $118 on the day of the insider's recent sale, giving the company a market capitalization of $2.706 billion. The price-earnings ratio stands at 18.78, slightly above the industry median of 18.275 and the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is currently 1.71, with a GF Value of $68.95, indicating that Patrick Industries Inc is significantly overvalued according to GuruFocus's valuation model. The GF Value is a proprietary intrinsic value estimate that considers 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.
