ELKHART, Ind. - Patrick Industries , Inc. (NASDAQ: NASDAQ:PATK), a prominent supplier of components for various markets including RV, Marine, Powersports, and Housing, announced the appointment of Andy Roeder as the company's new Executive Vice President-Finance, Chief Financial Officer (CFO), and Treasurer, effective today.
Andy Nemeth, CEO of Patrick, expressed confidence in Roeder's ability to guide the company's financial strategy, emphasizing his extensive experience and industry knowledge. Roeder's appointment follows his tenure as CFO of Polaris (NYSE:PII) Boats and previous finance roles at Bennington Marine and Ernst & Young.
Roeder shared his enthusiasm for joining Patrick and contributing to the company's growth goals. He also acknowledged the support of his former team at Polaris in his professional journey.
The company also recognized Matt Filer for his contributions as Interim CFO since May 2023. Filer will return to his prior position as Senior Vice President-Finance and take on the role of Corporate Controller.
Patrick Industries, headquartered in Elkhart, Indiana, has been serving its markets since 1959 and employs roughly 10,000 people across the United States.
The information in this article is based on a press release statement from Patrick Industries, Inc.
InvestingPro Insights
As Patrick Industries (NASDAQ: PATK) welcomes Andy Roeder to steer its financial helm, the company's stock exhibits signs of robust health and investor confidence. With a market capitalization of $2.71 billion, Patrick Industries continues to be a significant player in its sector. One of the notable InvestingPro Tips highlights the company's high shareholder yield, which is a strong draw for investors seeking returns. Additionally, the company's commitment to increasing shareholder value is evident in its history of raising dividends for 5 consecutive years.
The financial data from InvestingPro further underlines the company's performance. The P/E ratio stands at 18.38, indicating how much investors are willing to pay for each dollar of earnings, which is a key metric for valuation. Moreover, the company's revenue for the last twelve months as of Q4 2023 was $3,468.05 million, despite a downward trend in revenue growth during the same period.
Investors may also be interested in the company's recent price performance. Patrick Industries has been trading near its 52-week high, with the price at 97.84% of this peak. The stock has seen a significant price uptick over the last six months, with a 55.51% total return, reflecting strong investor sentiment.
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