Following a pattern since Nov. 2014, as MHProNews has reported numerous times, Jeffrey L. Gendell is shedding more Patrick Industries, Inc. (NASDAQ:PATK) stock, this time 6,835 shares for $40.12 per share for a net of $274,220.20. Major shareholders that own ten percent or more of a stock are required to file the transaction with the Securities and Exchange Commission, which Gendell did.

In a Dec. 8, 2012 post, MHProNews reported, by our tally, Gendell had sold 237,399 shares of Patrick for a total of about $10.28 million, now about $10.5 million.

Shares of Patrick traded up on Wednesday to $40.64, according to dakotafinancialnews; company stock has a 52-week low of $27.07 and a 52-week high of $48.00. In its last quarterly earnings report Oct. 29, 2015, Patrick beat analysts’ consensus estimates of $0.55 by $0.03, hitting $0.58.

Based in Elkhart, Indiana, Patrick is a component supplier to the manufactured housing and recreational vehicle industries. ##

(Photo credit: insideindianabusiness)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.