In its quarterly earnings report for Q2, 2015, Patrick Industries, Inc. (NASDAQ:PATK) reported $0.78 earnings per share, beating the Thomson Reuters consensus estimate of $0.73 by $0.05, according to AnalystRatingsNet. Revenue of $233.50 million was just short of the consensus estimate of $239.80. CL King had set a “buy” rating on the stock with a $46.67 target price, as dakotafinancialnews tells MHProNews.

Major shareholder Jeffrey L. Et Al Gendell continues to unload shares of Patrick, as he has done beginning Nov. 7, 2014, but much more repeatedly in the previous two months, as MHProNews has noted. On July 20 he sold 4,334 shares of the stock at $39.01 per share for a net of $169,069.34; and the next day, July 21, 2015, he unloaded 1,500 additional shares at $39.13 per share for a net of $58,695. Both transactions were recorded in a filing with the Securities and Exchange Commission since he is a majority shareholder.

Shares of Patrick closed down -1.28 percent at $35.76 in trading July 30. The stock has a market cap of $548.55 million and a PE ratio of 17.10.

The company is a component supplier to the manufactured housing and recreational vehicle industries. It is also one of the MH connected stocks tracked by MHProNews’ Daily Business News. ##

(Image credit: Patrick Industries, Inc.)

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