Updating a story MHProNews posted Sept. 3, 2015 regarding the sale of Patrick Industries, Inc. (NASDAQ:PATK) stock by two major shareholders, one of them, Tontine Capital Partners LP, unloaded another 143,950 shares of Patrick on Sept. 4, 2015. In a filing with the Securities and Exchange Commission, according to dakotafinancialnews, it was reported the net value, at an average of $44.37 a share, totaled $6,387,061.50.

Patrick has a market cap of $693.60 million and a price-to-earnings ratio of 19.72. Since Nov., 2014, Jeffrey L. Gendell, another major shareholder of Patrick stock, has sold some $5 million comprised of approximately 113,000 shares of company stock.

On Sept. 1, 2015 Patrick acquired North American Forest Products, and the company stock promptly shot up nearly 15 percent in two days.

Patrick produces and distributes component and building products to the manufactured housing and recreational vehicle industries. ##

(Photo credit: elkharttruth/Emily Pfund–Patrick Industries, Inc. headquarters)

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