Insider Selling: Mohawk Industries (NYSE:MHK) Insider Sells $778,650.00 in Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Mauro Vandini sold 5,000 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $155.73, for a total transaction of $778,650.00. Following the transaction, the insider owned 32,573 shares in the company, valued at $5,072,593.29. The trade was a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Mohawk Industries Price Performance

MHK stock traded up $5.85 during mid-day trading on Monday, reaching $156.37. The company’s stock had a trading volume of 1,614,694 shares, compared to its average volume of 988,320. The stock has a market cap of $9.09 billion, a PE ratio of 18.35, a P/E/G ratio of 1.42 and a beta of 1.18. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Mohawk Industries, Inc. has a fifty-two week low of $92.99 and a fifty-two week high of $158.81. The company’s 50 day moving average is $127.34 and its two-hundred day moving average is $117.28.

Mohawk Industries (NYSE:MHK) last released its earnings results 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. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $2.67 EPS. Equities research analysts expect that Mohawk Industries, Inc. will post 9.76 EPS for the current year.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. grew its stake in shares of Mohawk Industries by 343.8% in the 3rd quarter. Bessemer Group Inc. now owns 178,497 shares of the company’s stock valued at $22,260,000 after buying an additional 138,279 shares during the period. Hantz Financial Services Inc. raised its position in shares of Mohawk Industries by 31.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,143 shares of the company’s stock valued at $392,000 after buying an additional 757 shares during the period. Optas LLC raised its position in shares of Mohawk Industries by 20.5% during the 3rd quarter. Optas LLC now owns 2,471 shares of the company’s stock valued at $308,000 after buying an additional 421 shares during the period. Russell Investments Group Ltd. raised its position in shares of Mohawk Industries by 23.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 91,921 shares of the company’s stock valued at $11,465,000 after buying an additional 17,583 shares during the period. Finally, Maryland State Retirement & Pension System lifted its holdings in Mohawk Industries by 49.1% in the third quarter. Maryland State Retirement & Pension System now owns 14,781 shares of the company’s stock valued at $1,843,000 after acquiring an additional 4,868 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore upgraded Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $171.00 price objective on the stock in a research report on Monday, November 2nd. Wells Fargo & Company boosted their price objective on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Barclays upped their target price on Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. Robert W. Baird raised their target price on Mohawk Industries from $132.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $121.00 price target on shares of Mohawk Industries in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.