Insider Selling: Mohawk Industries (NYSE:MHK) Insider Sells $778,650.00 in Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Mauro Vandini sold 5,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $155.73, for a total value of $778,650.00. Following the completion of the transaction, the insider directly owned 32,573 shares of the company’s stock, valued at $5,072,593.29. This trade represents a 13.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mohawk Industries Stock Up 0.4%

Shares of Mohawk Industries stock opened at $152.38 on Thursday. The business’s fifty day moving average price is $128.87 and its two-hundred day moving average price is $117.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.09. The company has a market capitalization of $8.86 billion, a P/E ratio of 14.74, a PEG ratio of 1.43 and a beta of 1.18. Mohawk Industries, Inc. has a 1-year low of $92.99 and a 1-year high of $158.81.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. boosted its holdings in Mohawk Industries by 5.0% during the third quarter. Edmond DE Rothschild Holding S.A. now owns 315,000 shares of the company’s stock worth $39,287,000 after buying an additional 15,000 shares in the last quarter. Private Wealth Asset Management LLC grew its holdings in shares of Mohawk Industries by 6,686.0% in the 3rd quarter. Private Wealth Asset Management LLC now owns 3,393 shares of the company’s stock worth $423,000 after acquiring an additional 3,343 shares during the last quarter. Focus Advisor Solutions LLC raised its position in shares of Mohawk Industries by 171.7% during the third quarter. Focus Advisor Solutions LLC now owns 13,955 shares of the company’s stock worth $1,740,000 after purchasing an additional 8,818 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Mohawk Industries by 187.6% during the third quarter. Meeder Asset Management Inc. now owns 10,007 shares of the company’s stock valued at $1,248,000 after purchasing an additional 6,527 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Mohawk Industries by 5.3% during the third quarter. Voya Investment Management LLC now owns 38,151 shares of the company’s stock valued at $4,758,000 after purchasing an additional 1,936 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

MHK has been the topic of a number of recent analyst reports. Royal Bank Of Canada downgraded shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $130.00 to $112.00 in a research report on Wednesday, October 7th. Robert W. Baird increased their price objective on shares of Mohawk Industries from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Wall Street Zen lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Barclays raised their price objective on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. Finally, Melius Research initiated coverage on Mohawk Industries in a report on Tuesday, October 6th. They set a “buy” rating and a $188.00 target price on the stock. Four 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $138.92.

Mohawk Industries Company Profile

Mohawk Industries, Inc. is a global flooring manufacturer headquartered in Calhoun, Georgia. Its roots trace to a carpet-weaving business established in Amsterdam, New York, in 1878. The company makes flooring for residential and commercial customers, including carpet, rugs, ceramic and porcelain tile, natural stone, hardwood, laminate and luxury vinyl products. Its portfolio includes brands such as Mohawk, Daltile, American Olean, Karastan and Pergo. Mohawk serves markets across North America and internationally, with manufacturing and distribution operations in several regions.