Revealing a significant insider sell on March 5, John A Forbes, Board Member at Patrick Industries (NASDAQ:PATK), as per the latest SEC filing.
What Happened: According to a Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday, Forbes sold 6,793 shares of Patrick Industries. The total transaction value is $806,804.
Tracking the Tuesday's morning session, Patrick Industries shares are trading at $120.91, showing a down of 0.0%.
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 portion of revenue.
Breaking Down Patrick Industries's Financial Performance
Revenue Growth: Patrick Industries's revenue growth over a period of 3 months has faced challenges. As of 31 December, 2023, the company experienced a revenue decline of approximately -9.8%. This indicates a decrease in the ...