Mohawk Industries, Inc. (NYSE:MHK – Get Free Report) insider Suzanne Helen sold 1,646 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $146.60, for a total transaction of $241,303.60. Following the transaction, the insider directly owned 140,000 shares of the company’s stock, valued at $20,524,000. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Mohawk Industries Stock Performance
Shares of NYSE MHK opened at $150.86 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.91. The company has a market cap of $8.77 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.45 and a beta of 1.18. The firm’s fifty day moving average is $126.93 and its two-hundred day moving average is $117.13. Mohawk Industries, Inc. has a 52-week low of $92.99 and a 52-week high of $155.88.
Mohawk Industries (NYSE:MHK – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.58 by $0.14. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the company earned $2.67 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that Mohawk Industries, Inc. will post 9.76 EPS for the current fiscal year.
Mohawk Industries News Roundup
Here are the key news stories impacting Mohawk Industries this week:
- Positive Sentiment: Evercore ISI upgraded Mohawk to Outperform from In Line, citing an expected $1.1 billion share-buyback outlook that could support shareholder returns. Evercore upgrade and buyback outlook
- Positive Sentiment: The latest reported quarter showed adjusted strength in earnings: EPS of $2.72 beat the $2.58 consensus, while revenue rose 1% year over year. Revenue of $2.79 billion, however, fell short of estimates.
- Neutral Sentiment: Baird raised its price target to $142 from $132 and Barclays to $125 from $115, but both maintained neutral or equal-weight ratings. Their targets are below the share price cited in recent reports. Baird price target update Barclays price target update
- Negative Sentiment: Multiple insiders sold shares around November 2–3. Directors Jeffrey Lorberbaum and Bernard Thiers sold 10,000 and 15,000 shares, respectively; Suzanne L. Helen also reported sales totaling 4,646 shares. These transactions may weigh on sentiment, though filings do not explain the reasons for the sales. Lorberbaum share sale Thiers share sale Helen SEC filing
Institutional Trading of Mohawk Industries
A number of large investors have recently made changes to their positions in MHK. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Mohawk Industries during the 2nd quarter valued at about $25,000. Elevation Wealth Partners LLC grew its position in Mohawk Industries by 122.2% in the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock worth $27,000 after acquiring an additional 121 shares in the last quarter. Basecamp Wealth Advisors LLC grew its position in Mohawk Industries by 2,281.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new position in Mohawk Industries in the third quarter worth about $36,000. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in Mohawk Industries during the third quarter worth approximately $36,000. 78.98% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently commented on MHK. Wall Street Zen downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Wells Fargo & Company raised their price target on Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Mohawk Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Evercore raised Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $171.00 price objective on the stock in a research note on Monday. Finally, Bank of America reaffirmed a “neutral” rating on shares of Mohawk Industries in a report on Monday. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Mohawk Industries has an average rating of “Hold” and a consensus target price of $138.92.
Read Our Latest Analysis on MHK
Mohawk Industries Company Profile
Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.
Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.
The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.
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