Mohawk Industries, Inc. (NYSE:MHK) Insider Sells $1,191,120.00 in Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mohawk Industries Stock Performance

MHK opened at $114.39 on Monday. The business’s 50 day moving average is $120.51 and its 200-day moving average is $134.71. The stock has a market cap of $7.16 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a twelve month low of $104.88 and a twelve month high of $164.29.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Choreo LLC bought a new stake in Mohawk Industries during the fourth quarter worth approximately $258,000. Meeder Asset Management Inc. raised its holdings in Mohawk Industries by 8.8% during the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after purchasing an additional 6,863 shares in the last quarter. Townsend & Associates Inc raised its holdings in Mohawk Industries by 1.2% during the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock worth $34,382,000 after purchasing an additional 3,078 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Mohawk Industries during the fourth quarter worth approximately $997,000. Finally, JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after purchasing an additional 74,123 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 a number of research reports. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Raymond James reiterated a “strong-buy” rating and issued a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Wells Fargo & Company decreased their price target on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

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.