Mohawk Industries (NYSE:MHK) Insider Sells $241,303.60 in Stock

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 transaction of $241,303.60. Following the completion of the sale, the insider directly owned 140,000 shares in the company, valued at approximately $20,524,000. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mohawk Industries Trading Down 0.4%

Shares of NYSE:MHK opened at $150.25 on Friday. The company has a market cap of $8.73 billion, a PE ratio of 17.63, a P/E/G ratio of 1.42 and a beta of 1.18. The company’s 50-day moving average price is $127.34 and its 200 day moving average price is $117.28. Mohawk Industries, Inc. has a fifty-two week low of $92.99 and a fifty-two week 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.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, October 29th. The company reported $2.72 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 firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the firm earned $2.67 EPS. Mohawk Industries’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MHK. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Mohawk Industries during the second quarter worth approximately $25,000. Basecamp Wealth Advisors LLC lifted its position in Mohawk Industries by 2,281.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock worth $26,000 after purchasing an additional 251 shares during the period. Elevation Wealth Partners LLC boosted its stake in Mohawk Industries by 122.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock valued at $27,000 after purchasing an additional 121 shares in the last quarter. Pension & Wealth Management Advisors Inc. bought a new position in Mohawk Industries during the 3rd quarter valued at $36,000. Finally, Provenance Wealth Advisors LLC bought a new position in Mohawk Industries during the 3rd quarter valued at $36,000. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on MHK. Evercore upgraded Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $171.00 target price on the stock in a research report on Monday, November 2nd. Truist Financial boosted their price target on Mohawk Industries from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen cut Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Barclays raised 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, November 2nd. Finally, Melius Research assumed coverage on shares of Mohawk Industries in a research note on Tuesday, October 6th. They set a “buy” rating and a $188.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Mohawk Industries currently has a consensus rating of “Hold” and an average target price of $138.92.

About Mohawk Industries

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.