On March 5, a recent SEC filing unveiled that Todd M Cleveland, Director at Patrick Industries (NASDAQ:PATK) made an insider sell.
What Happened: Cleveland's decision to sell 27,600 shares of Patrick Industries was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday. The total value of the sale is $3,302,137.
During Tuesday's morning session, Patrick Industries shares down by 0.0%, currently priced at $120.91.
Get to Know Patrick Industries Better
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
Decline in Revenue: Over the 3 months period, Patrick Industries faced challenges, resulting in a decline of approximately -9.8% in revenue growth as of 31 December, 2023. This signifies ...