Mohawk Industries (NYSE:MHK) Stock: Insider Bernard Thiers Sells 15,000 Shares

Mohawk Industries, Inc. (NYSE:MHK) Director Bernard Thiers sold 15,000 shares of Mohawk Industries stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $144.05, for a total value of $2,160,750.00. Following the completion of the sale, the director owned 78,633 shares of the company’s stock, valued at $11,327,083.65. This trade represents a 16.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bernard Thiers also recently made the following trade(s):

• On Wednesday, August 5th, Bernard Thiers sold 13,393 shares of Mohawk Industries stock. The stock was sold at an average price of $134.98, for a total transaction of $1,807,787.14.

Mohawk Industries Price Performance

MHK opened at $153.38 on Thursday. The company’s 50 day simple moving average is $126.57 and its 200 day simple moving average is $116.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.91. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $154.46. The stock has a market capitalization of $8.92 billion, a PE ratio of 14.13, a P/E/G ratio of 1.95 and a beta of 1.18.

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

Institutional Trading of Mohawk Industries

Large investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC boosted its holdings in Mohawk Industries by 94.4% in the 3rd quarter. Lido Advisors LLC now owns 4,127 shares of the company’s stock worth $515,000 after acquiring an additional 2,004 shares during the period. New York Life Investment Management LLC grew its position in Mohawk Industries by 14.5% in the third quarter. New York Life Investment Management LLC now owns 7,353 shares of the company’s stock valued at $917,000 after acquiring an additional 932 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in shares of Mohawk Industries during the third quarter valued at approximately $291,000. Fulcrum Asset Management LLP raised its stake in shares of Mohawk Industries by 1,204.0% during the third quarter. Fulcrum Asset Management LLP now owns 17,304 shares of the company’s stock valued at $2,160,000 after purchasing an additional 15,977 shares during the period. Finally, Ethic Inc. raised its stake in shares of Mohawk Industries by 35.6% during the third quarter. Ethic Inc. now owns 4,700 shares of the company’s stock valued at $586,000 after purchasing an additional 1,233 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

More Mohawk Industries News

Here are the key news stories impacting Mohawk Industries this week:

• Positive Sentiment: Evercore ISI upgraded MHK to Outperform from In Line, pointing to an expected $1.1 billion share-buyback outlook that could support shareholder returns. Evercore upgrade and buyback outlook
• Neutral Sentiment: Baird raised its price target to $142 from $132 but kept a Neutral rating. Barclays lifted its target to $125 from $115 and maintained Equal Weight. The higher targets are positive revisions, though both firms remain cautious. Baird price target update Barclays price target update
• Negative Sentiment: Two directors sold a combined 25,000 shares for approximately $3.64 million. Bernard Thiers reduced his stake by about 16%, and Jeffrey Lorberbaum’s sale lowered his position by roughly 13%. Insider sales can concern investors, although the filings do not state the reasons for the transactions. Director share sales Lorberbaum SEC filing

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Evercore upgraded Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $171.00 price objective on the stock in a report on Monday. Truist Financial lifted their price objective on Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Barclays boosted their target price on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Robert W. Baird increased their target price 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 equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $138.92.

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.