Mohawk Industries, Inc. (MHK) VP Rodney David Patton Sells 2,260 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton sold 2,260 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $133.50, for a total value of $301,710.00. Following the completion of the sale, the vice president now directly owns 9,134 shares of the company’s stock, valued at approximately $1,219,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE MHK traded down $0.69 during trading hours on Friday, hitting $128.57. 970,482 shares of the company’s stock were exchanged, compared to its average volume of 1,036,206. Mohawk Industries, Inc. has a 1-year low of $109.35 and a 1-year high of $249.65. The stock has a market capitalization of $9.64 billion, a P/E ratio of 10.43, a P/E/G ratio of 2.07 and a beta of 1.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.38 and a quick ratio of 0.68.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 7th. The company reported $2.53 EPS for the quarter, topping the consensus estimate of $2.49 by $0.04. Mohawk Industries had a return on equity of 12.40% and a net margin of 8.63%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the firm posted $3.42 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. Equities analysts expect that Mohawk Industries, Inc. will post 11.24 earnings per share for the current year.

Several brokerages have recently weighed in on MHK. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Wells Fargo & Co increased their price target on Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Monday, February 11th. SunTrust Banks increased their price target on Mohawk Industries to $150.00 and gave the company a “buy” rating in a research note on Monday, February 11th. They noted that the move was a valuation call. Loop Capital increased their price target on Mohawk Industries to $126.00 and gave the company an “underperform” rating in a research note on Friday, February 8th. Finally, Buckingham Research began coverage on Mohawk Industries in a research note on Friday, February 1st. They issued an “underperform” rating and a $116.00 price target for the company. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $168.94.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Mohawk Industries in the fourth quarter worth approximately $68,819,000. FMR LLC boosted its holdings in Mohawk Industries by 16.3% in the fourth quarter. FMR LLC now owns 2,867,479 shares of the company’s stock worth $335,381,000 after acquiring an additional 402,710 shares in the last quarter. CWM Advisors LLC boosted its holdings in Mohawk Industries by 31.6% in the fourth quarter. CWM Advisors LLC now owns 3,031 shares of the company’s stock worth $355,000 after acquiring an additional 728 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Mohawk Industries by 40.6% in the fourth quarter. Nordea Investment Management AB now owns 152,190 shares of the company’s stock worth $17,800,000 after acquiring an additional 43,981 shares in the last quarter. Finally, National Pension Service boosted its holdings in Mohawk Industries by 4.7% in the fourth quarter. National Pension Service now owns 81,003 shares of the company’s stock worth $11,243,000 after acquiring an additional 3,631 shares in the last quarter. 77.80% of the stock is owned by institutional investors and hedge funds.

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About Mohawk Industries

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).

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