FMR LLC & Abigail Johnson Boost Patrick Industries Stake to 14.863%
Ticker: PATK · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 76605
| Field | Detail |
|---|---|
| Company | Patrick Industries Inc (PATK) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**FMR LLC and Abigail Johnson still own 14.863% of PATK, showing strong conviction.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Patrick Industries Inc. (PATK) as of February 9, 2024. They now collectively beneficially own 3,289,996 shares of common stock, representing 14.863% of the company. This matters to investors because FMR LLC is a significant institutional holder, and changes in their stake can signal their confidence in Patrick Industries' future performance, potentially influencing other investors.
Why It Matters
This filing shows a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, maintain a significant stake in Patrick Industries, indicating continued confidence in the company's prospects.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a level of confidence.
Analyst Insight
Smart investors should note the continued significant institutional ownership by FMR LLC, which can provide stability. While this filing doesn't indicate a new buy or sell, it confirms a major player's sustained interest, suggesting a deeper dive into Patrick Industries' fundamentals might be warranted.
Key Numbers
- 3,289,996 — Shares Beneficially Owned (This is the total number of Patrick Industries Inc. common shares FMR LLC and Abigail P. Johnson collectively own.)
- 14.863% — Percent of Class (This represents the significant portion of Patrick Industries Inc. that FMR LLC and Abigail P. Johnson control.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- PATRICK INDUSTRIES INC (company) — the issuer of the common stock
- 3,289,996 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 14.863% (dollar_amount) — percentage of Patrick Industries Inc. common stock owned
Forward-Looking Statements
- FMR LLC will maintain a significant ownership stake in Patrick Industries Inc. for the foreseeable future. (FMR LLC) — high confidence, target: 2025-02-09
- Patrick Industries Inc. will continue to be a focus for institutional investors due to its established ownership structure. (PATRICK INDUSTRIES INC) — medium confidence, target: 2024-12-31
FAQ
Who are the primary reporting persons in this SC 13G/A filing for Patrick Industries Inc.?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for each reporting person.
What is the total number of common shares of Patrick Industries Inc. beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson each beneficially own 3,289,996 shares of common stock, as indicated in Item 7 and Item 9 for both reporting persons, and Item 4(a) for FMR LLC.
What percentage of Patrick Industries Inc.'s common stock do FMR LLC and Abigail P. Johnson collectively own?
They collectively own 14.863% of the class of common stock, as stated in Item 11 for both reporting persons and Item 4(b) for FMR LLC.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the 'x' in the appropriate box on the cover page and in Item 3.
What is the CUSIP number for Patrick Industries Inc. common stock mentioned in the filing?
The CUSIP number for Patrick Industries Inc. common stock is 703343103, as listed on the cover page and in Item 2(e).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding PATRICK INDUSTRIES INC (PATK).