SEC Form SC 13G/A filed by Patrick Industries Inc. (Amendment)

2/9/24 9:28:33 AM ET

Auto Parts:O.E.M.

Consumer Discretionary

Get the next $PATK alert in real time by email

SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.3 PATRICK INDUSTRIES INC COMMON STOCK Cusip #703343103 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #703343103 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 3,288,557 Item 6: 0 Item 7: 3,289,996 Item 8: 0 Item 9: 3,289,996 Item 11: 14.863% Item 12: HC Cusip #703343103 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 3,289,996 Item 8: 0 Item 9: 3,289,996 Item 11: 14.863% Item 12: IN Item 1(a). Name of Issuer: PATRICK INDUSTRIES INC Item 1(b). Address of Issuer's Principal Executive Offices: 107 WEST FRANKLIN STREET PO BOX 638 ELKHART, IN 46515 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 703343103 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 3,289,996 (b) Percent of Class: 14.863% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 3,289,996 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of PATRICK INDUSTRIES INC. No one other person's interest in the COMMON STOCK of PATRICK INDUSTRIES INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. February 8, 2024 Date /s/ Stephanie J. Brown Signature Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries* * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. Exhibit A Pursuant to the instructions in Item 7 of Schedule 13G, the following table lists the identity and Item 3 classification, if applicable, of each relevant entity that beneficially owns shares of the security class being reported on this Schedule 13G. Entity ITEM 3 Classification FIAM LLC IA Fidelity Institutional Asset Management Trust Company BK Fidelity Management & Research Company LLC * IA Fidelity Management Trust Company BK * Entity beneficially owns 5% or greater of the outstanding shares of the security class being reported on this Schedule 13G. Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer of FMR LLC. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the execution of the shareholders' voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC. This filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by FMR LLC, certain of its subsidiaries and affiliates, and other companies (collectively, the "FMR Reporters"). This filing does not reflect securities, if any, beneficially owned by certain other companies whose beneficial ownership of securities is disaggregated from that of the FMR Reporters in accordance with Securities and Exchange Commission Release No. 34-39538 (January 12, 1998). RULE 13d-1(k)(1) AGREEMENT The undersigned persons, on February 8, 2024, agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of the COMMON STOCK of PATRICK INDUSTRIES INC at December 29, 2023. FMR LLC By /s/ Stephanie J. Brown Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries* Abigail P. Johnson By /s/ Stephanie J. Brown Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 26, 2023, by and on behalf of Abigail P. Johnson** * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. ** This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 31, 2023, accession number: 0000315066-23-000038.

Get the next $PATK alert in real time by email

Recent Analyst Ratings for

$PATK

Date	Price Target	Rating	Analyst
10/31/2025	$99.00	Hold	Loop Capital
4/4/2025	$96.00	Outperform → Neutral	Robert W. Baird
10/1/2024	$160.00	Outperform	Raymond James
8/29/2024	$145.00	Buy	The Benchmark Company
12/7/2023	$105.00	Outperform	BMO Capital Markets
4/19/2023	$80.00	Overweight	KeyBanc Capital Markets
8/26/2022	$65.00	Neutral	DA Davidson
5/5/2022	$93.00	Buy	MKM Partners

More analyst ratings

SEC Form SC 13G/A filed by Patrick Industries Inc. (Amendment)

2/9/24 9:28:33 AM ET

$PATK

Auto Parts:O.E.M.

Consumer Discretionary

Get the next $PATK alert in real time by email

Recent Analyst Ratings for

$PATK

Date	Price Target	Rating	Analyst
10/31/2025	$99.00	Hold	Loop Capital
4/4/2025	$96.00	Outperform → Neutral	Robert W. Baird
10/1/2024	$160.00	Outperform	Raymond James
8/29/2024	$145.00	Buy	The Benchmark Company
12/7/2023	$105.00	Outperform	BMO Capital Markets
4/19/2023	$80.00	Overweight	KeyBanc Capital Markets
8/26/2022	$65.00	Neutral	DA Davidson
5/5/2022	$93.00	Buy	MKM Partners

More analyst ratings

SEC Form SC 13G/A filed by Patrick Industries Inc. (Amendment)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$PATK

SEC Form SC 13G/A filed by Patrick Industries Inc. (Amendment)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$PATK

$PATK
Insider Trading

Director Cerulli Joseph M gifted 2,000 shares, decreasing direct ownership by 3% to 73,128 units (SEC Form 4)

Director Forbes John A gifted 615 shares, decreasing direct ownership by 1% to 51,976 units (SEC Form 4)

Chief Executive Officer Nemeth Andy L gifted 2,000 shares, decreasing direct ownership by 0.61% to 326,641 units (SEC Form 4)

$PATK
Press Releases

Patrick Industries, Inc. to Participate in Upcoming Raymond James Conference

Patrick Industries, Inc. Announces Increase to Regular Quarterly Cash Dividend

Patrick Industries, Inc. to Participate in Upcoming Investor Conferences

$PATK
SEC Filings

Patrick Industries Inc. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

SEC Form 10-Q filed by Patrick Industries Inc.

Patrick Industries Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

$PATK
Analyst Ratings

Loop Capital initiated coverage on Patrick Industries with a new price target

Patrick Industries downgraded by Robert W. Baird with a new price target

Raymond James initiated coverage on Patrick Industries with a new price target

$PATK
Insider Purchases

Director Cleveland Todd M bought $247,850 worth of shares (3,000 units at $82.62), increasing direct ownership by 2% to 133,286 units (SEC Form 4)

Director Welch M Scott bought $5,864 worth of shares (71 units at $82.59) (SEC Form 4)

Director Cleveland Todd M was granted 1,725 shares and bought $952,259 worth of shares (11,000 units at $86.57), increasing direct ownership by 11% to 130,286 units (SEC Form 4)

$PATK
Financials

Patrick Industries, Inc. Announces Increase to Regular Quarterly Cash Dividend

Patrick Industries, Inc. Reports Third Quarter 2025 Financial Results

Patrick Industries, Inc. Announces Third Quarter 2025 Earnings Release and Conference Call Webcast on October 30, 2025

$PATK
Leadership Updates

Rockford Fosgate Welcomes Josh Berry as Regional Sales Manager, OEM Marine

Patrick Industries, Inc. Completes Acquisition of Medallion Instrumentation Systems, LLC

ROCKFORD FOSGATE ANNOUNCES LEADERSHIP TRANSITION: BILL JACKSON TO BECOME SR. OPERATIONS BUSINESS ADVISOR AT PATRICK INDUSTRIES, ZACH LUKE APPOINTED AS PRESIDENT

$PATK
Large Ownership Changes