Mohawk Industries Inc. (MHK) Insider Sells $1,446,200.00 in Stock
Mohawk Industries Inc. (NYSE:MHK) insider Chistopher Wellborn sold 7,231 shares of the company’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $200.00, for a total transaction of $1,446,200.00. Following the completion of the transaction, the insider now owns 174,926 shares in the company, valued at $34,985,200. The transaction was disclosed in a filing with the SEC, which is available at this link.
Mohawk Industries Inc. (NYSE:MHK) traded down 0.37% during trading on Friday, hitting $199.53. The stock had a trading volume of 224,894 shares. Mohawk Industries Inc. has a 52 week low of $148.56 and a 52 week high of $216.58. The firm’s market cap is $14.80 billion. The company’s 50-day moving average is $193.84 and its 200 day moving average is $199.26.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $3.50 EPS for the quarter, topping the Zacks’ consensus estimate of $3.46 by $0.04. Mohawk Industries had a return on equity of 17.22% and a net margin of 10.12%. The firm earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company posted $2.98 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that Mohawk Industries Inc. will post $12.57 EPS for the current fiscal year.
Several brokerages have recently weighed in on MHK. MKM Partners increased their price objective on shares of Mohawk Industries from $244.00 to $246.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Royal Bank Of Canada increased their price objective on shares of Mohawk Industries from $220.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Gabelli began coverage on shares of Mohawk Industries in a report on Tuesday, August 9th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating and set a $238.00 price objective on the stock in a report on Tuesday, August 9th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $245.00 price objective (up from $220.00) on shares of Mohawk Industries in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $229.45.
A number of large investors have recently made changes to their positions in MHK. MSI Financial Services Inc raised its stake in shares of Mohawk Industries by 13.1% in the third quarter. MSI Financial Services Inc now owns 597 shares of the company’s stock worth $120,000 after buying an additional 69 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Mohawk Industries by 612.2% in the second quarter. Tower Research Capital LLC TRC now owns 641 shares of the company’s stock valued at $122,000 after buying an additional 551 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in shares of Mohawk Industries by 5,954.5% in the third quarter. Cornerstone Advisors Inc. now owns 666 shares of the company’s stock valued at $133,000 after buying an additional 655 shares in the last quarter. SRB Corp raised its stake in shares of Mohawk Industries by 5.5% in the third quarter. SRB Corp now owns 743 shares of the company’s stock valued at $149,000 after buying an additional 39 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in shares of Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock valued at $160,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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