Mohawk Industries, Inc. (NYSE:MHK) Insider Sells $375,298.84 in Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Cock Paul F. De sold 4,453 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $84.28, for a total value of $375,298.84. Following the completion of the sale, the insider now owns 23,175 shares of the company’s stock, valued at $1,953,189. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NYSE:MHK traded down $0.59 during mid-day trading on Friday, hitting $83.55. 18,448 shares of the company’s stock traded hands, compared to its average volume of 779,780. The company has a fifty day moving average of $79.55 and a 200 day moving average of $116.07. Mohawk Industries, Inc. has a twelve month low of $56.62 and a twelve month high of $156.60. The company has a market capitalization of $5.91 billion, a P/E ratio of 8.28, a P/E/G ratio of 2.02 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.84 and a current ratio of 1.61.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Monday, May 4th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.01). Mohawk Industries had a net margin of 7.47% and a return on equity of 8.75%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the company earned $2.13 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. On average, research analysts expect that Mohawk Industries, Inc. will post 4.11 earnings per share for the current fiscal year.

Several brokerages have weighed in on MHK. Cfra lowered their target price on Mohawk Industries from $145.00 to $135.00 and set a “hold” rating for the company in a report on Friday, February 14th. Evercore ISI upgraded Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $83.00 target price for the company in a report on Thursday, April 2nd. Jefferies Financial Group cut Mohawk Industries from a “buy” rating to a “hold” rating and lowered their target price for the stock from $110.00 to $74.00 in a report on Friday, April 3rd. Royal Bank of Canada lowered Mohawk Industries from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $73.00 to $70.00 in a research report on Wednesday, May 6th. Finally, ValuEngine raised Mohawk Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $111.25.

Large investors have recently made changes to their positions in the stock. Procyon Private Wealth Partners LLC acquired a new position in Mohawk Industries during the 4th quarter valued at about $25,000. Raab & Moskowitz Asset Management LLC acquired a new position in Mohawk Industries during the 4th quarter valued at about $27,000. Orion Portfolio Solutions LLC purchased a new stake in Mohawk Industries during the 4th quarter valued at about $31,000. Whittier Trust Co. purchased a new stake in Mohawk Industries during the 4th quarter valued at about $32,000. Finally, CWM LLC grew its stake in Mohawk Industries by 1,090.5% during the 4th quarter. CWM LLC now owns 250 shares of the company’s stock valued at $34,000 after purchasing an additional 229 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

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

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