Mohawk Industries Inc. (MHK) Director Acquires $750,000.00 in Stock
Mohawk Industries Inc. (NYSE:MHK) Director Cock Frans Georges De bought 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were purchased at an average cost of $200.00 per share, for a total transaction of $750,000.00. Following the acquisition, the director now directly owns 10,016 shares in the company, valued at approximately $2,003,200. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Mohawk Industries Inc. (NYSE:MHK) traded down 0.66% during midday trading on Wednesday, hitting $198.77. 227,081 shares of the stock were exchanged. Mohawk Industries Inc. has a 1-year low of $148.56 and a 1-year high of $216.58. The company’s market capitalization is $14.74 billion. The firm has a 50-day moving average of $194.01 and a 200-day moving average of $199.55.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $3.50 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $2.28 billion. During the same period in the prior year, the company earned $2.98 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts expect that Mohawk Industries Inc. will post $12.57 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Mohawk Industries by 82.2% in the first quarter. Royal Bank of Canada now owns 127,535 shares of the company’s stock valued at $24,346,000 after buying an additional 57,523 shares in the last quarter. Squarepoint Ops LLC increased its position in Mohawk Industries by 5.5% in the first quarter. Squarepoint Ops LLC now owns 7,133 shares of the company’s stock valued at $1,362,000 after buying an additional 370 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Mohawk Industries by 16.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,398 shares of the company’s stock valued at $1,982,000 after buying an additional 1,442 shares in the last quarter. New England Research & Management Inc. increased its position in Mohawk Industries by 3.9% in the second quarter. New England Research & Management Inc. now owns 7,220 shares of the company’s stock valued at $1,370,000 after buying an additional 270 shares in the last quarter. Finally, Cacti Asset Management LLC purchased a new position in Mohawk Industries during the second quarter valued at approximately $515,000. 76.87% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on MHK. RBC Capital Markets reaffirmed an “outperform” rating and set a $245.00 target price (up previously from $220.00) on shares of Mohawk Industries in a report on Wednesday, August 10th. Gabelli began coverage on shares of Mohawk Industries in a report on Tuesday, August 9th. They set a “buy” rating on the stock. Royal Bank Of Canada upped their target price 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. Macquarie reaffirmed an “outperform” rating and set a $228.00 target price on shares of Mohawk Industries in a report on Thursday, September 22nd. Finally, MKM Partners upped their target price 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. Four investment 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 company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $229.45.
About Mohawk Industries
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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