Mohawk Industries (NYSE:MHK) Insider Suzanne Helen Sells 1,646 Shares of Company Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne Helen sold 1,646 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $146.60, for a total transaction of $241,303.60. Following the completion of the transaction, the insider directly owned 140,000 shares in the company, valued at $20,524,000. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mohawk Industries Stock Performance

Shares of NYSE MHK traded down $2.50 during mid-day trading on Thursday, reaching $150.86. 1,656,683 shares of the company were exchanged, compared to its average volume of 984,065. The stock has a market capitalization of $8.77 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.95 and a beta of 1.18. The company has a quick ratio of 1.09, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. The company’s 50-day simple moving average is $126.57 and its 200-day simple moving average is $116.99. Mohawk Industries, Inc. has a twelve month low of $92.99 and a twelve month high of $155.88.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, October 29th. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. Mohawk Industries’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.67 EPS. As a group, research analysts predict that Mohawk Industries, Inc. will post 9.76 earnings per share for the current year.

Wall Street Analyst Weigh In

MHK has been the subject of several recent research reports. Truist Financial boosted their price target on Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wells Fargo & Company increased their price objective on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $121.00 target price on shares of Mohawk Industries in a report on Tuesday, August 4th. Royal Bank Of Canada cut shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $130.00 to $112.00 in a research report on Wednesday, October 7th. Finally, Robert W. Baird raised their price target on shares of Mohawk Industries from $132.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $138.92.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors have recently made changes to their positions in MHK. BlackRock Inc. bought a new position in Mohawk Industries during the 2nd quarter worth $777,293,000. Dimensional Fund Advisors LP raised its holdings in Mohawk Industries by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company’s stock valued at $316,962,000 after acquiring an additional 80,761 shares in the last quarter. Pzena Investment Management LLC bought a new stake in shares of Mohawk Industries during the 2nd quarter valued at $138,661,000. Canada Pension Plan Investment Board bought a new stake in shares of Mohawk Industries during the 2nd quarter valued at $80,880,000. Finally, Bank of America Corp DE grew its holdings in shares of Mohawk Industries by 68.0% during the 1st quarter. Bank of America Corp DE now owns 444,345 shares of the company’s stock worth $43,750,000 after purchasing an additional 179,925 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

About Mohawk Industries

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.