Jeffrey S. Lorberbaum Sells 19,700 Shares of Mohawk Industries, Inc. (MHK) Stock
Mohawk Industries, Inc. (NYSE:MHK) Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the transaction, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded up 0.31% during midday trading on Wednesday, hitting $255.56. The stock had a trading volume of 463,539 shares. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $256.33. The company’s market cap is $19.00 billion. The firm has a 50 day moving average of $248.11 and a 200-day moving average of $238.25.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $3.72 EPS for the quarter, beating the Zacks’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the business earned $3.47 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts forecast that Mohawk Industries, Inc. will post $13.52 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Jeffrey S. Lorberbaum Sells 19,700 Shares of Mohawk Industries, Inc. (MHK) Stock” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/06/jeffrey-s-lorberbaum-sells-19700-shares-of-mohawk-industries-inc-mhk-stock.html.
Several hedge funds and other institutional investors have recently bought and sold shares of MHK. Sun Life Financial INC increased its stake in shares of Mohawk Industries by 5,675.0% during the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock valued at $112,000 after acquiring an additional 454 shares during the period. IFP Advisors Inc increased its stake in shares of Mohawk Industries by 5.6% during the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $121,000 after acquiring an additional 28 shares during the period. First Personal Financial Services increased its stake in shares of Mohawk Industries by 6.6% during the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after acquiring an additional 35 shares during the period. First Manhattan Co. acquired a new position in shares of Mohawk Industries during the second quarter valued at approximately $160,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Mohawk Industries during the first quarter valued at approximately $179,000. Institutional investors and hedge funds own 76.97% of the company’s stock.
MHK has been the topic of several recent analyst reports. BidaskClub upgraded Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Credit Suisse Group initiated coverage on Mohawk Industries in a research report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 target price on the stock. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a research report on Tuesday, July 4th. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 target price on shares of Mohawk Industries in a research report on Monday, July 24th. Finally, MKM Partners reissued a “buy” rating and set a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $266.64.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
Receive News & Stock Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related stocks with our FREE daily email newsletter.