The Executive VP and CFO of Patrick Industries (
), Andy Nemeth, made a pretty substantial buy into the company on
Monday. This marks the first insider trade for Patrick Industries
in 2013 and the first insider buy since March 2012. Andy Nemeth
added 10,000 shares to his stake at $14.67 per share. This
transaction cost him $146,700. Nemeth owns at least 125,889
company shares after this. Since his purchase, the price of the
stock has increased 2.86%.
As the chart above shows, the insiders in Patrick Industries have
proven to be good investors in their own company. The insiders
have primarily bought shares when the price per share was under
$4, and they sell their shares when the price goes over $12.
These insiders have seen a substantial growth in their holdings.
The last time an insider bought into the company was in March
2012. Since then the share price has seen a 139.47% increase.
Andy Nemeth has been Patrick's VP of Finance,
Secretary-Treasurer, and CFO since 2004. He has also been a
director for the company since 2006. Prior to that Nemeth served
as a division controller and public accountant in Indiana.
Patrick Industries is a supplier and manufacturer of building
products and materials to the Manufactured Housing and
Recreational Vehicle industries. The company also supplies
products to the industrial market that include customers in the
household furniture, fixtures and commercial furnishings, marine,
architectural and the automotive aftermarket.
on Patrick Industries has reported that the cash flow from
operations is different from their reported net income. On the
other hand, the company maintains a Piotroski F-Score of 7, which
indicates a healthy situation.
The net sales for Patrick Industries in 2012 were $437.4 million,
an increase from $307.8 million in 2011. The company also
reported a net income for 2012 of $28.1 million, or $2.64 per
diluted share. This would have been the company's highest net
income, but the company's federal net operating tax loss of $21
million exceeded its taxable income for 2012.
"As we begin a new year in 2013, we believe the investments we
made in our businesses in 2011 and 2012 will positively impact
both our top and bottom line results," said Todd Cleveland, CEO
of Patrick Industries.
Market Cap: 155.74 M
Shiller P/E: 669.3
52 Week Low: 8.0
52 Week High: 20.33
Average Volume: 142,000
is currently the only guru followed by GuruFocus who owns shares
in Patrick Industries. Simons holds 52,500 shares of the company
stock. Look at the
Patrick Industries Guru Trades page
to see more gurus that have held stake in the company.
With its shares up 4.46%, Patrick Industries trades at $15.23.
For more information on insider trades at Patrick Industries look
at the company's insider history page.About GuruFocus:
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