Mohawk Industries (NYSE:MHK) Director Sells $2,160,750.00 in Stock

Mohawk Industries, Inc. (NYSE:MHK) Director Bernard Thiers sold 15,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $144.05, for a total transaction of $2,160,750.00. Following the completion of the sale, the director directly owned 78,633 shares in the company, valued at $11,327,083.65. This represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Bernard Thiers also recently made the following trade(s):

• On Wednesday, August 5th, Bernard Thiers sold 13,393 shares of Mohawk Industries stock. The stock was sold at an average price of $134.98, for a total transaction of $1,807,787.14.

Mohawk Industries Stock Down 2.3%

MHK stock traded down $3.47 during mid-day trading on Tuesday, hitting $145.11. 1,634,615 shares of the company were exchanged, compared to its average volume of 976,866. The firm has a fifty day simple moving average of $125.96 and a 200 day simple moving average of $116.71. The company has a market capitalization of $9.83 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18. Mohawk Industries, Inc. has a twelve month low of $92.99 and a twelve month high of $151.24. The company has a current ratio of 1.92, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, October 29th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the business posted $2.67 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts forecast that Mohawk Industries, Inc. will post 9.80 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MHK. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $121.00 price objective on shares of Mohawk Industries in a research note on Tuesday, August 4th. Evercore upgraded Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $171.00 target price for the company in a research report on Monday. Wells Fargo & Company boosted their price target on 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 research report on Monday. Finally, Weiss Ratings upgraded Mohawk Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Hold” and an average price target of $138.92.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Mohawk Industries in the 2nd quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC raised its stake in shares of Mohawk Industries by 2,281.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in Mohawk Industries by 122.2% in the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock worth $27,000 after purchasing an additional 121 shares during the period. Pension & Wealth Management Advisors Inc. bought a new position in Mohawk Industries in the 3rd quarter valued at about $36,000. Finally, Provenance Wealth Advisors LLC bought a new stake in shares of Mohawk Industries during the 3rd quarter worth about $36,000. 78.98% of the stock is owned by institutional investors and hedge funds.

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.