A dollar invested in Patrick Industries, Inc. (NASDAQ:PATK) in 2008 would be worth $45 to the investor by the end of 2013, according to motleyfool.com. Headquartered in Elkhart County, Indiana, Patrick produces and distributes a wide range of products to the manufactured housing (MH) and recreational vehicle (RV) markets. The same dollar invested in a conglomerate of eight peer companies like Thor Industries (NYSE:THO) and Drew Industries (NYSE:DW), also a supplier to the MH and RV industries, would have returned $7.50 over the same time period.
MHProNews.com understands Patrick drove revenue growth by selling new products to existing customers, and upgraded its manufacturing and distribution equipment. Also headquartered in Elkhart County, Drew supplies chassis and other components to the same two markets, and is similarly offering more products to their market. Patrick increased its RV content per unit from $1,048 in 2012 to $1,338 in 2013, a bump of 27 percent, while Drew’s rose more modestly from $2,690 in 2012 to $2,716 in 2013. ##
