BlackRock Amends Patrick Industries Stake, Maintains Passive Position
Ticker: PATK · Form: SC 13G/A · Filed: 2024-01-22T00:00:00.000Z
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.
From the Filing
EDGAR Filing Documents for 0001086364-24-001160 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-001160 Filing Date 2024-01-22 Accepted 2024-01-22 15:52:18 Documents 1 Document Format Files Seq Description Document Type Size 1 us7033431039_012224.txt SC 13G/A 11695 Complete submission text file 0001086364-24-001160.txt 13512 Mailing Address 107 WEST FRANKLIN STREET PO BOX 638 ELKHART IN 46515 Business Address 107 WEST FRANKLIN STREET PO BOX 638 ELKHART IN 46515 574-294-7511 PATRICK INDUSTRIES INC (Subject) CIK : 0000076605 (see all company filings) EIN. : 351057796 | State of Incorp.: IN | Fiscal Year End: 1231 Type: SC 13G/A | Act: 34 | File No.: 005-17482 | Film No.: 24548813 SIC : 3714 Motor Vehicle Parts & Accessories (CF Office: 04 Manufacturing) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)