Mohawk Industries (NYSE:MHK) Insider Mauro Vandini Sells 5,000 Shares of Stock

Key Points

• Mohawk Industries insider Mauro Vandini sold 5,000 shares for $778,650 at an average price of $155.73, reducing his direct holdings by 13.31% to 32,573 shares.
• Mohawk shares rose 3.9% to $156.37 in Monday trading. In its latest quarter, the company beat EPS expectations ($2.72 versus $2.58) but reported revenue of $2.79 billion, below estimates of $2.82 billion.
• Analysts’ consensus rating is Hold, with an average price target of $138.92; four analysts rate the stock Buy, ten Hold, and one Sell.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) insider Mauro Vandini sold 5,000 shares of the firm's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $155.73, for a total value of $778,650.00. Following the completion of the sale, the insider directly owned 32,573 shares of the company's stock, valued at approximately $5,072,593.29. This represents a 13.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Mohawk Industries Stock Up 3.9%

Shares of MHK stock traded up $5.85 during trading hours on Monday, reaching $156.37. 1,614,694 shares of the company's stock were exchanged, compared to its average volume of 988,320. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $158.81. The stock has a market cap of $9.09 billion, a PE ratio of 18.35, a PEG ratio of 1.42 and a beta of 1.18. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock's fifty day moving average price is $127.34 and its two-hundred day moving average price is $117.28.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.58 by $0.14. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. Mohawk Industries's revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $2.67 EPS. Research analysts predict that Mohawk Industries, Inc. will post 9.76 EPS for the current year.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its stake in Mohawk Industries by 18.3% in the 2nd quarter. Tidal Investments LLC now owns 61,723 shares of the company's stock valued at $7,489,000 after purchasing an additional 9,558 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Mohawk Industries in the 2nd quarter valued at $1,608,000. Bank of America Corp DE acquired a new stake in Mohawk Industries during the 2nd quarter worth $36,666,000. Ieq Capital LLC acquired a new stake in Mohawk Industries during the 2nd quarter worth $21,474,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in Mohawk Industries during the 1st quarter worth $3,071,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MHK has been the subject of several research analyst reports. Wall Street Zen cut Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Saturday, October 31st. Wells Fargo & Company upped their target price on Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Truist Financial increased their price target on shares of Mohawk Industries from $135.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Barclays raised their price target on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, November 2nd. Finally, Weiss Ratings raised shares of Mohawk Industries from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, November 2nd. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mohawk Industries presently has a consensus rating of "Hold" and a consensus price target of $138.92.

About Mohawk Industries

Mohawk Industries, Inc is a global flooring manufacturer headquartered in Calhoun, Georgia. Its roots trace to a carpet-weaving business established in Amsterdam, New York, in 1878.

The company makes flooring for residential and commercial customers, including carpet, rugs, ceramic and porcelain tile, natural stone, hardwood, laminate and luxury vinyl products. Its portfolio includes brands such as Mohawk, Daltile, American Olean, Karastan and Pergo.

Mohawk serves markets across North America and internationally, with manufacturing and distribution operations in several regions.

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