Rep. Josh Gottheimer Sells Off Shares of Patrick Industries, Inc. (NASDAQ:PATK)

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Patrick Industries, Inc. (NASDAQ:PATK). In a filing disclosed on May 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Patrick Industries stock on April 9th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of RTX (NYSE:RTX) on 4/23/2025.
• Purchased $1,001 – $15,000 in shares of Cheniere Energy (NYSE:LNG) on 4/22/2025.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 4/21/2025.
• Purchased $1,001 – $15,000 in shares of Tri Pointe Homes (NYSE:TPH) on 4/21/2025.
• Purchased $1,001 – $15,000 in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of KKR & Co. Inc. (NYSE:KKR) on 4/21/2025.
• Purchased $1,001 – $15,000 in shares of D.R. Horton (NYSE:DHI) on 4/21/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of Hillman Solutions (NASDAQ:HLMN) on 4/17/2025.
• Sold $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 4/17/2025.

Patrick Industries Stock Up 0.4%

PATK opened at $86.98 on Friday. The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.41 and a beta of 2.05. Patrick Industries, Inc. has a twelve month low of $67.72 and a twelve month high of $98.90. The company’s 50-day moving average price is $82.34 and its two-hundred day moving average price is $86.79.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $959.46 million. Patrick Industries had a net margin of 3.72% and a return on equity of 13.25%. Patrick Industries’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.79 EPS. As a group, equities analysts expect that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on PATK shares. Truist Financial dropped their price target on shares of Patrick Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Roth Mkm reaffirmed a “buy” rating and set a $100.00 target price (down previously from $112.00) on shares of Patrick Industries in a report on Friday, May 2nd. Baird R W lowered shares of Patrick Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Robert W. Baird decreased their target price on shares of Patrick Industries from $96.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Finally, Raymond James decreased their target price on shares of Patrick Industries from $103.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Patrick Industries presently has a consensus rating of “Moderate Buy” and an average target price of $96.29.

Insider Activity

In other news, Director M Scott Welch purchased 2,500 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $84.62 per share, with a total value of $211,550.00. Following the transaction, the director now directly owns 2,961 shares of the company’s stock, valued at approximately $250,559.82. This represents a 542.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stacey L. Neu sold 2,885 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $85.53, for a total transaction of $246,754.05. Following the sale, the executive vice president now directly owns 18,044 shares of the company’s stock, valued at $1,543,303.32. The trade was a 13.78% decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Patrick Industries

Institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in shares of Patrick Industries by 51.3% in the 4th quarter. Arizona State Retirement System now owns 9,271 shares of the construction company’s stock worth $770,000 after buying an additional 3,143 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Patrick Industries by 27.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 123,972 shares of the construction company’s stock worth $10,222,000 after buying an additional 26,558 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Patrick Industries by 55.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 548,771 shares of the construction company’s stock valued at $45,592,000 after purchasing an additional 195,138 shares in the last quarter. Xponance Inc. boosted its stake in shares of Patrick Industries by 13.8% in the 4th quarter. Xponance Inc. now owns 3,070 shares of the construction company’s stock valued at $255,000 after purchasing an additional 372 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Patrick Industries by 35.8% in the 4th quarter. IFP Advisors Inc now owns 1,044 shares of the construction company’s stock valued at $87,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027.

Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2026 election.

Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025.

Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About Patrick Industries

Patrick Industries, Inc manufactures and distributes component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. Its Manufacturing segment manufactures and sells laminated products for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; RV paintings; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinets; polymer-based flooring products; dash panels; and other products.