Insider Selling: Mohawk Industries, Inc. (NYSE:MHK) Insider Sells 10,500 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries 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 transaction, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. The trade was a 10.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Mohawk Industries Stock Up 3.1 %

MHK stock opened at $114.39 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $120.51 and a two-hundred day moving average of $134.85. Mohawk Industries, Inc. has a 12 month low of $104.88 and a 12 month high of $164.29. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.44 and a beta of 1.44.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MHK. The Goldman Sachs Group reduced their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Raymond James reiterated a “strong-buy” rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Barclays dropped their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Robert W. Baird decreased their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Finally, Bank of America cut their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MHK. Mark Sheptoff Financial Planning LLC acquired a new stake in Mohawk Industries during the third quarter worth about $36,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Mohawk Industries during the 4th quarter worth approximately $41,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Mohawk Industries during the 3rd quarter valued at approximately $55,000. True Wealth Design LLC acquired a new position in Mohawk Industries in the third quarter valued at approximately $61,000. Finally, Versant Capital Management Inc grew its position in Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds 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.