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

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne Helen sold 3,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 2,332 shares in the company, valued at $349,823.32. The trade was a 56.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Mohawk Industries Stock Down 0.4%

Shares of Mohawk Industries stock opened at $150.25 on Friday. The stock has a 50-day moving average price of $127.34 and a 200 day moving average price of $117.28. The company has a market cap of $8.73 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.42 and a beta of 1.18. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $155.88.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America reaffirmed a “neutral” rating on shares of Mohawk Industries in a research report on Monday, November 2nd. Wall Street Zen downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Robert W. Baird lifted their target price on shares of Mohawk Industries from $132.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $121.00 price target on shares of Mohawk Industries in a report on Tuesday, August 4th. Finally, Barclays upped their price target on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $138.92.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Mohawk Industries in the 2nd quarter valued at approximately $25,000. Elevation Wealth Partners LLC raised its position in Mohawk Industries by 122.2% during the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock valued at $27,000 after acquiring an additional 121 shares in the last quarter. Basecamp Wealth Advisors LLC raised its position in 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 acquiring an additional 251 shares in the last quarter. Provenance Wealth Advisors LLC bought a new position in Mohawk Industries during the third quarter valued at approximately $36,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new stake in Mohawk Industries in the third quarter valued at approximately $36,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.