Making a noteworthy insider sell on December 15, Todd M Cleveland, Board Member at Patrick Industries (NASDAQ:PATK), is reported in the latest SEC filing.
What Happened: Cleveland's recent Form 4 filing with the U.S. Securities and Exchange Commission on Friday unveiled the sale of 25,000 shares of Patrick Industries. The total transaction value is $2,222,598.
Patrick Industries shares are trading down 0.0% at $93.45 at the time of this writing on Friday morning.
About Patrick Industries
Patrick Industries Inc makes and sells building products and materials for recreational vehicles and manufactured housing. The company is organized into two segments based on product type: manufacturing and distribution. The manufacturing segment, which generates the majority of revenue, sells laminated and vinyl products that include furniture, shelving, cabinets, bath fixtures, and countertops. The distribution segment sells prefinished wall and ceiling panels, as well as electrical and plumbing products for the RV and manufactured-housing industries. One of the firm's RV customers makes up a significant portion of revenue. Nearly all of Patrick Industries' revenue comes from North America.
Breaking Down Patrick Industries's Financial Performance
Negative Revenue Trend: Examining Patrick Industries's financials over 3 months reveals challenges. As of 30 September, 2023, the company experienced a decline of approximately -22.12% in revenue ...