Mohawk Industries (NYSE:MHK) Insider Suzanne Helen Sells 3,000 Shares of Company Stock

Key Points

• Insider Suzanne Helen sold 3,000 Mohawk Industries shares for $450,030, at an average price of $150.01. The sale reduced her holdings by 56.26%, to 2,332 shares.
• Mohawk reported quarterly EPS of $2.72, beating estimates of $2.58, while revenue of $2.79 billion fell short of forecasts. Revenue increased 1% year over year.
• Analysts’ consensus rating is Hold, with a consensus price target of $138.92; the stock traded at $150.86 in Thursday’s session.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) insider Suzanne Helen sold 3,000 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $150.01, for a total value of $450,030.00. Following the completion of the transaction, the insider owned 2,332 shares of the company's stock, valued at approximately $349,823.32. The trade was a 56.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mohawk Industries Stock Performance

NYSE MHK traded down $2.50 during trading hours on Thursday, reaching $150.86. The stock had a trading volume of 1,656,682 shares, compared to its average volume of 984,065. Mohawk Industries, Inc. has a 52-week low of $92.99 and a 52-week high of $155.88. The stock has a fifty day moving average of $126.57 and a 200 day moving average of $116.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.91. The stock has a market cap of $8.77 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.95 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.14. The company 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 for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $2.67 EPS. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.76 earnings per share for the current year.

Institutional Investors Weigh In On Mohawk Industries

A number of hedge funds have recently modified their holdings of the company. Pinnacle Wealth Planning Services Inc. increased its stake in Mohawk Industries by 14.4% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 732 shares of the company's stock valued at $91,000 after purchasing an additional 92 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Mohawk Industries by 1.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company's stock valued at $560,000 after buying an additional 101 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Mohawk Industries by 122.2% during the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company's stock worth $27,000 after buying an additional 121 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Mohawk Industries during the second quarter worth about $25,000. Finally, VestGen Advisors LLC boosted its stake in shares of Mohawk Industries by 13.5% during the third quarter. VestGen Advisors LLC now owns 1,878 shares of the company's stock worth $234,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 78.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MHK shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $121.00 target price on shares of Mohawk Industries in a research note on Tuesday, August 4th. Melius Research began coverage on shares of Mohawk Industries in a research report on Tuesday, October 6th. They issued a "buy" rating and a $188.00 target price for the company. Bank of America restated a "neutral" rating on shares of Mohawk Industries in a research report on Monday. Weiss Ratings raised shares of Mohawk Industries from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. Finally, Evercore raised shares of Mohawk Industries from an "in-line" rating to an "outperform" rating and set a $171.00 target price on the stock in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $138.92.

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.

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