Mohawk Industries, Inc. (MHK) Reaches New 1-Year High at $259.92
Mohawk Industries, Inc. (NYSE:MHK)’s share price reached a new 52-week high on Wednesday . The company traded as high as $259.92 and last traded at $260.06, with a volume of 143,178 shares. The stock had previously closed at $258.73.
A number of equities analysts have issued reports on MHK shares. Credit Suisse Group started coverage on Mohawk Industries in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 target price on the stock. BidaskClub lowered Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a research report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $267.00 target price on shares of Mohawk Industries in a research report on Monday, July 24th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $286.00 target price (up from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $273.55.
The stock’s market cap is $19.41 billion. The stock’s 50 day moving average is $254.20 and its 200-day moving average is $243.86.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm earned $3.47 EPS. Mohawk Industries’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Mohawk Industries, Inc. will post $13.49 earnings per share for the current year.
In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the sale, the chairman now owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Rodney David Patton sold 137 shares of Mohawk Industries stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now directly owns 6,924 shares in the company, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Sun Life Financial INC lifted its position in shares of Mohawk Industries by 5,675.0% during the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after buying an additional 454 shares during the period. First Personal Financial Services lifted its position in shares of Mohawk Industries by 6.6% during the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after buying an additional 35 shares during the period. IFP Advisors Inc lifted its position in shares of Mohawk Industries by 18.6% during the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after buying an additional 98 shares during the period. First Manhattan Co. bought a new position in shares of Mohawk Industries during the 2nd quarter worth approximately $160,000. Finally, Bridgewater Wealth & Financial Management LLC bought a new position in shares of Mohawk Industries during the 2nd quarter worth approximately $203,000. 76.91% of the stock is currently owned by institutional investors.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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