Mohawk Industries, Inc. (NYSE:MHK) Insider Sells $101,152.00 in Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Cock Paul F. De sold 800 shares of Mohawk Industries stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $126.44, for a total transaction of $101,152.00. Following the sale, the insider now directly owns 25,360 shares in the company, valued at approximately $3,206,518.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of MHK stock traded up $0.24 on Friday, hitting $125.65. 508,800 shares of the stock traded hands, compared to its average volume of 822,716. The firm’s 50-day moving average price is $119.58 and its two-hundred day moving average price is $133.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.66 and a current ratio of 1.30. The stock has a market capitalization of $9.08 billion, a PE ratio of 10.19, a PEG ratio of 2.48 and a beta of 1.33. Mohawk Industries, Inc. has a twelve month low of $108.93 and a twelve month high of $189.20.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.02. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 EPS. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.96 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in shares of Mohawk Industries during the 1st quarter valued at about $25,000. HM Payson & Co. acquired a new position in shares of Mohawk Industries during the 2nd quarter valued at about $36,000. Point72 Hong Kong Ltd acquired a new position in shares of Mohawk Industries during the 2nd quarter valued at about $65,000. Zions Bancorporation N.A. acquired a new position in shares of Mohawk Industries during the 1st quarter valued at about $85,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Mohawk Industries during the 1st quarter valued at about $85,000. 84.95% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on MHK. National Securities began coverage on shares of Mohawk Industries in a research note on Thursday, July 11th. They set a “buy” rating on the stock. Buckingham Research raised shares of Mohawk Industries from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $115.00 to $117.00 in a research note on Tuesday, July 30th. Nomura lowered their target price on shares of Mohawk Industries from $176.00 to $167.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Loop Capital lifted their target price on shares of Mohawk Industries to $145.00 and gave the stock a “hold” rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating on the stock in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of “Hold” and an average price target of $141.41.

About Mohawk Industries

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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