Filip Balcaen Buys 78,200 Shares of Mohawk Industries, Inc. (MHK) Stock

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Mohawk Industries, Inc. (NYSE:MHK) Director Filip Balcaen purchased 78,200 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was acquired at an average price of $124.34 per share, with a total value of $9,723,388.00. Following the completion of the transaction, the director now owns 776 shares of the company’s stock, valued at approximately $96,487.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Filip Balcaen also recently made the following trade(s):

  • On Thursday, November 29th, Filip Balcaen purchased 10,000 shares of Mohawk Industries stock. The stock was acquired at an average price of $127.48 per share, with a total value of $1,274,800.00.
  • On Monday, October 29th, Filip Balcaen purchased 250,000 shares of Mohawk Industries stock. The stock was acquired at an average price of $118.42 per share, with a total value of $29,605,000.00.

Shares of MHK opened at $120.44 on Friday. Mohawk Industries, Inc. has a one year low of $113.45 and a one year high of $282.32. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.48 and a beta of 1.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.79.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, October 25th. The company reported $3.29 EPS for the quarter, missing the consensus estimate of $3.58 by ($0.29). Mohawk Industries had a net margin of 8.81% and a return on equity of 13.49%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 12.32 earnings per share for the current fiscal year.

Mohawk Industries declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

MHK has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded shares of Mohawk Industries from a “neutral” rating to an “underweight” rating in a research report on Tuesday, October 9th. Robert W. Baird set a $192.00 price target on shares of Mohawk Industries and gave the company a “buy” rating in a research report on Friday, October 26th. Raymond James dropped their price target on shares of Mohawk Industries from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday, October 10th. SunTrust Banks dropped their price target on shares of Mohawk Industries from $270.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Finally, Credit Suisse Group set a $180.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a research report on Wednesday, October 17th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Mohawk Industries currently has a consensus rating of “Hold” and an average price target of $171.63.

Institutional investors and hedge funds have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC bought a new stake in shares of Mohawk Industries during the third quarter worth $105,000. Qube Research & Technologies Ltd bought a new stake in shares of Mohawk Industries during the second quarter worth $110,000. SRS Capital Advisors Inc. bought a new stake in shares of Mohawk Industries during the third quarter worth $118,000. Amica Retiree Medical Trust grew its stake in shares of Mohawk Industries by 134.3% during the third quarter. Amica Retiree Medical Trust now owns 848 shares of the company’s stock worth $149,000 after buying an additional 486 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Mohawk Industries by 2,250.0% during the second quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock worth $151,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 78.20% of the company’s stock.

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Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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