Mohawk Industries (NYSE:MHK) Stock: Insider Suzanne Helen Sells 1,646 Shares

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne Helen sold 1,646 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $146.60, for a total value of $241,303.60. Following the transaction, the insider owned 140,000 shares of the company’s stock, valued at approximately $20,524,000. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Mohawk Industries Price Performance

MHK stock opened at $150.25 on Friday. The company has a market cap of $8.73 billion, a P/E ratio of 14.44, a PEG ratio of 2.13 and a beta of 1.18. The firm has a 50-day moving average of $127.34 and a 200 day moving average of $117.28. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $155.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.09.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on MHK shares. Bank of America restated a “neutral” rating on shares of Mohawk Industries in a research note on Monday. Royal Bank Of Canada lowered shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from $130.00 to $112.00 in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $121.00 target price on shares of Mohawk Industries in a research report on Tuesday, August 4th. Wells Fargo & Company lifted their price objective on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Mohawk Industries presently has a consensus rating of “Hold” and a consensus price target of $138.92.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Mohawk Industries during the second quarter worth $777,293,000. Dimensional Fund Advisors LP grew its holdings in shares of Mohawk Industries by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company’s stock worth $316,962,000 after purchasing an additional 80,761 shares during the period. Pzena Investment Management LLC purchased a new stake in shares of Mohawk Industries during the 2nd quarter worth $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% in 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 in the last quarter. 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.