Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton sold 387 shares of Mohawk Industries stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $242.00, for a total value of $93,654.00. Following the completion of the sale, the vice president now owns 7,061 shares in the company, valued at $1,708,762. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Mohawk Industries, Inc. (NYSE MHK) traded up 0.81% during mid-day trading on Monday, reaching $243.88. The company’s stock had a trading volume of 194,895 shares. The company’s market capitalization is $18.13 billion. Mohawk Industries, Inc. has a 1-year low of $175.52 and a 1-year high of $245.90. The firm’s 50 day moving average price is $235.75 and its 200-day moving average price is $222.02.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, April 27th. The company reported $2.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.01. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.27 billion. Mohawk Industries had a net margin of 9.05% and a return on equity of 13.60%. Mohawk Industries’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.38 earnings per share. On average, analysts predict that Mohawk Industries, Inc. will post $13.34 EPS for the current year.
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A number of institutional investors have recently bought and sold shares of MHK. BlackRock Inc. increased its position in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock worth $992,431,000 after buying an additional 4,196,790 shares in the last quarter. Norges Bank bought a new position in Mohawk Industries during the fourth quarter worth $120,281,000. Glenview Capital Management LLC acquired a new position in shares of Mohawk Industries during the first quarter worth approximately $82,361,000. Morgan Stanley increased its position in shares of Mohawk Industries by 159.5% in the first quarter. Morgan Stanley now owns 353,581 shares of the company’s stock worth $81,141,000 after buying an additional 217,330 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock worth $1,373,997,000 after buying an additional 185,698 shares in the last quarter. 77.54% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on MHK shares. Nomura started coverage on shares of Mohawk Industries in a research note on Wednesday, April 12th. They issued a “buy” rating and a $280.00 target price on the stock. MKM Partners reissued a “buy” rating and issued a $255.00 target price on shares of Mohawk Industries in a research note on Tuesday, April 18th. Instinet reissued a “buy” rating and issued a $280.00 target price on shares of Mohawk Industries in a research note on Friday, April 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 target price on shares of Mohawk Industries in a research note on Monday, May 1st. Finally, Stifel Nicolaus raised their target price on shares of Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $256.50.
About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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