Mohawk Industries (NYSE:MHK) Insider Sells $450,030.00 in Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne Helen sold 3,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $150.01, for a total value of $450,030.00. Following the completion of the transaction, the insider owned 2,332 shares in the company, valued at $349,823.32. This trade represents a 56.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock traded down $2.50 during trading hours on Thursday, hitting $150.86. 1,656,682 shares of the company were exchanged, compared to its average volume of 984,065. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $155.88. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $126.57 and a 200-day moving average of $116.99. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.95 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, October 29th. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. Mohawk Industries’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $2.67 EPS. As a group, analysts expect that Mohawk Industries, Inc. will post 9.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Mohawk Industries

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Mohawk Industries during the second quarter worth about $777,293,000. Dimensional Fund Advisors LP grew its position in Mohawk Industries by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company’s stock worth $316,962,000 after buying an additional 80,761 shares during the period. Pzena Investment Management LLC purchased a new position in Mohawk Industries in the second quarter valued at about $138,661,000. Canada Pension Plan Investment Board purchased a new position in Mohawk Industries in the second quarter valued at about $80,880,000. Finally, Bank of America Corp DE lifted its position in shares of Mohawk Industries by 68.0% during the 1st quarter. Bank of America Corp DE now owns 444,345 shares of the company’s stock valued at $43,750,000 after acquiring an additional 179,925 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Bank of America reissued a “neutral” rating on shares of Mohawk Industries in a report on Monday. Weiss Ratings upgraded shares of Mohawk Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Robert W. Baird lifted their price objective on Mohawk Industries from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Monday. Finally, Barclays boosted their target price on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries presently has an average rating of “Hold” and a consensus target price of $138.92.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.