Following a series of MHProNews posts reporting the sale of Patrick Industries, Inc. (NASDAQ:PATK), especially within the last three months, and largely by Jeffrey L. Gendel,l dakotafinancenews states major stockholder Tontine Capital Partners LP unloaded another 60,000 shares of Patrick at an average price of $44.42 for a net value of $2,665,200.

Tontine most recently sold $6.38 million of Patrick, as MHProNews reported Sept. 10, 2015, when Tontine owned 12.78 percent of company stock. The Securities and Exchange Commission (SEC) requires major stockholders who own ten percent or more of a stock to disclose trades with the SEC.

At last report, Jeffrey L. Gendell continues to control 2.57 million shares, 16.56 percent of the portfolio. The stock has a market capitalization of $730.37 million and a P/E ratio of 20.77.

Patrick closed in today’s trading -2.28 at $46.22. The company manufactures and distributes components to the manufactured housing and recreational vehicle industries. MHProNews reported Patrick acquired North American Forest Products Sept. 3, 2015.

(Photo credit: Neurolog-Kielce–stock exchange trading board)

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