Insider Selling: Mohawk Industries, Inc. (NYSE:MHK) Insider Sells 4,000 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $127.75, for a total transaction of $511,000.00. Following the completion of the sale, the insider now directly owns 108,084 shares in the company, valued at approximately $13,807,731. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mohawk Industries Stock Performance

NYSE MHK opened at $119.10 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries, Inc. has a 1-year low of $96.28 and a 1-year high of $164.29. The company has a market cap of $7.52 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. The stock’s 50 day simple moving average is $141.45 and its 200-day simple moving average is $139.13.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MHK. Loop Capital decreased their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Finally, Truist Financial cut their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $159.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC raised its position in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries in the 3rd quarter worth approximately $36,000. Headlands Technologies LLC acquired a new stake in Mohawk Industries during the second quarter worth $50,000. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries in the third quarter valued at $55,000. Finally, Blue Trust Inc. grew its holdings in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.