Patrick Industries Inc (PATK) Files Form 4 Insider Selling : Todd M Cleveland Sells 55,000 Shares

Patrick Industries Inc (PATK): Todd M Cleveland , CEO of Patrick Industries Inc sold 55,000 shares on May 20, 2016. The Insider selling transaction was reported by the company on May 24, 2016 to the Securities and Exchange Commission. The shares were sold at $51.65 per share for a total value of $2,858,389.50 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 20, 2016, Andy L Nemeth (President) sold 10,118 shares at $49.19 per share price.On May 18, 2016, Courtney Blosser (VP Human Resources) sold 1,870 shares at $49.03 per share price.Also, On May 4, 2016, Walter E Wells (director) sold 3,000 shares at $45.62 per share price.On Apr 25, 2016, Todd M Cleveland (CEO) sold 30,000 shares at $49.79 per share price.

Patrick Industries: On Friday, May 20, 2016 heightened volatility was witnessed in Patrick Industries which led to swings in the share price. The shares opened for trading at $49.05 and hit $51.42 on the upside , eventually ending the session at $50.94, with a gain of 4.64% or 2.26 points. The heightened volatility saw the trading volume jump to 1,93,415 shares. The 52-week high of the share price is $51.42 and the company has a market cap of $778,567 M . The 52-week low of the share price is at $29.28.

Patrick Industries Money Flow Index Chart

Company has been under the radar of several Street Analysts.Patrick Industries is Downgraded by CL King to Neutral. Earlier the firm had a rating of Strong Buy on the company shares. The Rating was issued on Mar 31, 2016.

Patrick Industries Inc. is a manufacturer of component products and distributor of building products and materials for the recreational vehicle and manufactured housing industries. 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. The Company operates in two segments: Manufacturing and Distribution. The Company manufactures a variety of products including 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 exterior graphics and RV painting and slotwall panels and components among others.

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