Investors bought shares of Mohawk Industries Inc. (NYSE:MHK) on weakness during trading on Friday following insider selling activity. $52.25 million flowed into the stock on the tick-up and $30.07 million flowed out of the stock on the tick-down, for a money net flow of $22.18 million into the stock. Of all equities tracked, Mohawk Industries had the 14th highest net in-flow for the day. Mohawk Industries traded down ($0.30) for the day and closed at $199.97Specifically, 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 of the company’s stock, valued at $34,985,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cock Frans Georges De sold 3,734 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $210.00, for a total transaction of $784,140.00. Following the transaction, the director now directly owns 6,266 shares of the company’s stock, valued at approximately $1,315,860. The disclosure for this sale can be found here. Insiders own 17.10% of the company’s stock.

Several research analysts recently issued reports on the stock. RBC Capital Markets reissued an “outperform” rating and issued a $245.00 price target (up previously from $220.00) on shares of Mohawk Industries in a research report on Wednesday, August 10th. Gabelli assumed coverage on shares of Mohawk Industries in a research report on Tuesday, August 9th. They issued a “buy” rating for the company. Royal Bank Of Canada increased their price target on shares of Mohawk Industries from $220.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Macquarie reissued an “outperform” rating and issued a $228.00 price target on shares of Mohawk Industries in a research report on Thursday, September 22nd. Finally, MKM Partners increased their price target on shares of Mohawk Industries from $244.00 to $246.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $229.45.

The company’s 50 day moving average is $193.84 and its 200-day moving average is $199.26. The company’s market cap is $14.83 billion.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.04. Mohawk Industries had a net margin of 10.12% and a return on equity of 17.22%. The business earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company earned $2.98 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Equities analysts anticipate that Mohawk Industries Inc. will post $12.57 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of MHK. Price T Rowe Associates Inc. MD boosted its stake in shares of Mohawk Industries by 6.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 179,184 shares of the company’s stock valued at $35,898,000 after buying an additional 11,100 shares during the period. Credit Suisse AG boosted its stake in shares of Mohawk Industries by 5.9% in the third quarter. Credit Suisse AG now owns 166,096 shares of the company’s stock valued at $33,275,000 after buying an additional 9,198 shares during the period. Pioneer Investment Management Inc. boosted its stake in shares of Mohawk Industries by 43.0% in the third quarter. Pioneer Investment Management Inc. now owns 78,388 shares of the company’s stock valued at $15,704,000 after buying an additional 23,567 shares during the period. PCJ Investment Counsel Ltd. boosted its stake in shares of Mohawk Industries by 40.0% in the third quarter. PCJ Investment Counsel Ltd. now owns 7,000 shares of the company’s stock valued at $1,402,000 after buying an additional 2,000 shares during the period. Finally, Dai Ichi Life Holdings Inc. acquired a new stake in shares of Mohawk Industries during the third quarter valued at $252,000. Institutional investors and hedge funds 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.

5 Day Chart for NYSE:MHK

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