Mohawk Industries (NYSE:MHK) Insider Mauro Vandini Sells 5,000 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Mauro Vandini sold 5,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $155.73, for a total value of $778,650.00. Following the completion of the transaction, the insider directly owned 32,573 shares in the company, valued at approximately $5,072,593.29. This represents a 13.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mohawk Industries Stock Up 3.9%

Shares of MHK stock opened at $156.37 on Tuesday. Mohawk Industries, Inc. has a 12 month low of $92.99 and a 12 month high of $158.81. The firm has a market cap of $9.09 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.18. The stock has a 50 day moving average of $127.86 and a 200-day moving average of $117.44. The company has a quick ratio of 1.09, a current ratio of 1.91 and a debt-to-equity ratio of 0.14.

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial raised their price target on shares of Mohawk Industries from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $121.00 target price on shares of Mohawk Industries in a research note on Tuesday, August 4th. Bank of America reissued a “neutral” rating on shares of Mohawk Industries in a research report on Monday, November 2nd. Royal Bank Of Canada lowered Mohawk Industries from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $130.00 to $112.00 in a research note on Wednesday, October 7th. Finally, Robert W. Baird boosted their price target on Mohawk Industries from $132.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Mohawk Industries presently has an average rating of “Hold” and a consensus target price of $138.92.

Institutional Trading of Mohawk Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position 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% in the first quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company’s stock valued at $316,962,000 after acquiring an additional 80,761 shares during the period. Pzena Investment Management LLC bought a new stake in Mohawk Industries in the second quarter valued at $138,661,000. Canada Pension Plan Investment Board acquired a new position in Mohawk Industries during the second quarter worth $80,880,000. Finally, Bank of America Corp DE raised its stake in Mohawk Industries by 68.0% during the first quarter. Bank of America Corp DE now owns 444,345 shares of the company’s stock worth $43,750,000 after acquiring an additional 179,925 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global flooring manufacturer headquartered in Calhoun, Georgia. Its roots trace to a carpet-weaving business established in Amsterdam, New York, in 1878.

The company makes flooring for residential and commercial customers, including carpet, rugs, ceramic and porcelain tile, natural stone, hardwood, laminate and luxury vinyl products. Its portfolio includes brands such as Mohawk, Daltile, American Olean, Karastan and Pergo.

Mohawk serves markets across North America and internationally, with manufacturing and distribution operations in several regions.