SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 12.9% Stake in Patrick Industries Inc.

FMR LLC and its affiliate Abigail P. Johnson have filed an amended Schedule 13G, revealing a beneficial ownership of 12.9% of Patrick Industries Inc.'s common stock as of March 31, 2025.

Summary

• FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 4,336,758.47 shares of Patrick Industries Inc. common stock.
• This aggregate amount represents 12.9% of the total outstanding common stock of Patrick Industries Inc.
• FMR LLC holds sole voting power over 4,330,207.69 shares and sole dispositive power over 4,336,758.47 shares.
• Abigail P. Johnson holds sole dispositive power over 4,336,758.47 shares, with no sole or shared voting power reported directly.
• The filing was made under Rule 13d-1(b), indicating FMR LLC is a parent holding company.
• Key subsidiaries of FMR LLC identified as beneficially owning shares include FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, Fidelity Management Trust Company, and Strategic Advisers LLC, with Fidelity Management & Research Company LLC owning 5% or more.
• Abigail P. Johnson, as a Director, Chairman, and CEO of FMR LLC, is part of the Johnson family group that holds predominant ownership and voting control of FMR LLC.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, which is neutral in sentiment. It provides no positive or negative commentary on the issuer's performance or prospects.

Future Outlook

NA

Management Comments

• "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, other than activities solely in connection with a nomination under §§ 240.14a-11." (Certification by FMR LLC and Abigail P. Johnson)
• "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." (Certification by FMR LLC and Abigail P. Johnson)

Industry Context

This filing is a standard disclosure of a significant ownership stake by a large institutional investor (FMR LLC, parent of Fidelity Investments) in a publicly traded company. It does not provide specific insights into broader industry trends for Patrick Industries Inc. but rather reflects an investment decision by a major asset manager.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by FMR LLC and Abigail P. Johnson may be viewed positively by other investors as a vote of confidence, potentially influencing market perception and liquidity.
• Management: Awareness of a large, active institutional shareholder like FMR LLC may influence management's strategic decisions and corporate governance practices, aligning interests with major investors.

Key Dates

Keywords

Patrick Industries Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Equity Stake, Investment Management