Mohawk Industries, Inc. (NYSE:MHK) Insider Sells $102,879.00 in Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the sale, the insider now directly owns 121,669 shares in the company, valued at $17,881,692.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mohawk Industries Stock Performance

MHK stock opened at $146.71 on Friday. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $164.05. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of -22.43, a PEG ratio of 1.23 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The stock’s fifty day moving average is $126.59 and its two-hundred day moving average is $120.56.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the business posted $2.76 EPS. Mohawk Industries’s revenue was down 5.1% on a year-over-year basis. On average, research analysts predict that Mohawk Industries, Inc. will post 9.9 EPS for the current year.

Institutional Trading of Mohawk Industries

Several hedge funds have recently added to or reduced their stakes in MHK. Vanguard Group Inc. raised its stake in shares of Mohawk Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after purchasing an additional 17,541 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after acquiring an additional 292,661 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Mohawk Industries by 8.5% in the second quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after acquiring an additional 132,879 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after acquiring an additional 360,628 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Mohawk Industries by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock valued at $103,887,000 after acquiring an additional 39,653 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

MHK has been the subject of several research analyst reports. Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and increased their target price for the company from $120.00 to $177.00 in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Loop Capital boosted their target price on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Barclays upped their target price on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company lifted their price target on Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mohawk Industries currently has an average rating of “Moderate Buy” and an average price target of $156.00.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.