BlackRock Amends Patrick Industries Stake, Maintains Passive Position
Ticker: PATK · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 76605
| Field | Detail |
|---|---|
| Company | Patrick Industries Inc (PATK) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a chunk of PATRICK INDUSTRIES, signaling long-term confidence.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, disclosing its ownership of Common Stock in PATRICK INDUSTRIES INC as of December 31, 2023. This amendment, the third for BlackRock, indicates their continued significant, but passive, investment in Patrick Industries. This matters to investors because BlackRock is a major institutional investor, and their sustained position suggests confidence in the company's long-term prospects, potentially signaling stability for current or prospective shareholders.
Why It Matters
BlackRock's continued passive ownership in PATRICK INDUSTRIES INC signals a stable institutional investment, which can be a positive indicator for other investors considering the stock.
Risk Assessment
Risk Level: low — This filing indicates a passive, institutional investment, which generally poses a low risk to the company's operations or stock price.
Analyst Insight
Investors should view BlackRock's continued passive stake as a sign of stability, but should conduct their own due diligence on PATRICK INDUSTRIES INC's fundamentals rather than solely relying on institutional ownership.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- PATRICK INDUSTRIES INC (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock will maintain a significant, passive stake in PATRICK INDUSTRIES INC for the foreseeable future. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 3)' sections.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., as indicated under '(1)Names of reporting persons. BlackRock, Inc.' and in the 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' section.
What is the subject company whose securities are being reported?
The subject company is PATRICK INDUSTRIES INC, as stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PATRICK INDUSTRIES INC' and '(Name of Issuer) PATRICK INDUSTRIES INC'.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Common Stock of PATRICK INDUSTRIES INC is 703343103, as listed under '(CUSIP Number) 703343103'.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding PATRICK INDUSTRIES INC (PATK).