Insider Buying: Mohawk Industries (MHK) Director Acquires 25,912 Shares of Stock

Mohawk Industries (NYSE:MHK) Director Filip Balcaen acquired 25,912 shares of the business’s stock in a transaction dated Monday, May 14th. The shares were acquired at an average cost of $209.89 per share, with a total value of $5,438,669.68. Following the transaction, the director now owns 776 shares in the company, valued at $162,874.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Filip Balcaen also recently made the following trade(s):

  • On Wednesday, May 9th, Filip Balcaen acquired 10,046 shares of Mohawk Industries stock. The shares were acquired at an average cost of $209.82 per share, with a total value of $2,107,851.72.
  • On Tuesday, May 1st, Filip Balcaen acquired 66,199 shares of Mohawk Industries stock. The shares were acquired at an average cost of $209.08 per share, with a total value of $13,840,886.92.

Shares of MHK stock opened at $211.84 on Friday. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.32 and a beta of 1.38. Mohawk Industries has a 52 week low of $206.86 and a 52 week high of $208.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 1.54.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 26th. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Mohawk Industries had a net margin of 10.12% and a return on equity of 15.05%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.72 EPS. equities analysts expect that Mohawk Industries will post 15.46 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on MHK shares. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a research note on Monday, April 16th. Credit Suisse Group restated an “outperform” rating and set a $310.00 target price (up previously from $303.00) on shares of Mohawk Industries in a research note on Monday, January 22nd. They noted that the move was a valuation call. Robert W. Baird lowered their target price on shares of Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Longbow Research upgraded shares of Mohawk Industries from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. Finally, Goldman Sachs cut shares of Mohawk Industries from a “conviction-buy” rating to a “buy” rating and lowered their target price for the company from $306.00 to $292.00 in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $280.67.

A number of hedge funds have recently made changes to their positions in MHK. NuWave Investment Management LLC purchased a new stake in Mohawk Industries in the 4th quarter worth $117,000. Cerebellum GP LLC purchased a new stake in Mohawk Industries in the 4th quarter worth $124,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Mohawk Industries in the 4th quarter worth $124,000. Rockefeller Capital Management L.P. purchased a new stake in Mohawk Industries in the 1st quarter worth $161,000. Finally, Calton & Associates Inc. purchased a new stake in Mohawk Industries in the 4th quarter worth $171,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Insider Buying and Selling by Quarter for Mohawk Industries (NYSE:MHK)

Receive News & Ratings for Mohawk Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply