Mohawk Industries (NYSE:MHK) Insider Suzanne Helen Sells 3,000 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne Helen sold 3,000 shares of Mohawk Industries stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $150.01, for a total transaction of $450,030.00. Following the transaction, the insider directly owned 2,332 shares of the company’s stock, valued at $349,823.32. This represents a 56.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Mohawk Industries Price Performance

NYSE:MHK opened at $150.86 on Friday. The firm has a market cap of $8.77 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.18. Mohawk Industries, Inc. has a 12 month low of $92.99 and a 12 month high of $155.88. The company has a quick ratio of 1.09, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $126.93 and its two-hundred day moving average price is $117.13.

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

Institutional Trading of Mohawk Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Mohawk Industries during the second quarter worth about $777,293,000. Pzena Investment Management LLC acquired a new position in Mohawk Industries in the second quarter valued at about $138,661,000. Canada Pension Plan Investment Board acquired a new position in Mohawk Industries in the second quarter valued at about $80,880,000. Donald Smith & CO. Inc. bought a new stake in shares of Mohawk Industries in the second quarter worth about $42,157,000. Finally, Bank of America Corp DE bought a new stake in shares of Mohawk Industries in the second quarter worth about $36,666,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MHK shares. Weiss Ratings raised Mohawk Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Bank of America restated a “neutral” rating on shares of Mohawk Industries in a research note on Monday. Barclays lifted their price target on Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday. Truist Financial upped 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. Finally, Melius Research started coverage on shares of Mohawk Industries in a report on Tuesday, October 6th. They set a “buy” rating and a $188.00 price objective on the stock. 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $138.92.

Key Stories Impacting Mohawk Industries

Here are the key news stories impacting Mohawk Industries this week:

• Positive Sentiment: Evercore ISI upgraded Mohawk to Outperform from In Line, citing an expected $1.1 billion share-buyback outlook that could support shareholder returns. Evercore upgrade and buyback outlook
• Positive Sentiment: The latest reported quarter showed adjusted strength in earnings: EPS of $2.72 beat the $2.58 consensus, while revenue rose 1% year over year. Revenue of $2.79 billion, however, fell short of estimates.
• Neutral Sentiment: Baird raised its price target to $142 from $132 and Barclays to $125 from $115, but both maintained neutral or equal-weight ratings. Their targets are below the share price cited in recent reports. Baird price target update Barclays price target update
• Negative Sentiment: Multiple insiders sold shares around November 2–3. Directors Jeffrey Lorberbaum and Bernard Thiers sold 10,000 and 15,000 shares, respectively; Suzanne L. Helen also reported sales totaling 4,646 shares. These transactions may weigh on sentiment, though filings do not explain the reasons for the sales. Lorberbaum share sale Thiers share sale Helen SEC filing

About Mohawk Industries

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.