Mohawk Industries (NYSE:MHK) Stock: Insider Bernard Thiers Sells 15,000 Shares

Key Points

• Director Bernard Thiers sold 15,000 Mohawk Industries shares at an average price of $144.05, worth about $2.16 million. He retained 78,633 shares after the sale, reducing his position by 16.02%.
• Mohawk reported quarterly EPS of $2.72, beating analyst estimates of $2.58, while revenue of $2.79 billion fell short of estimates and rose 1% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $138.92. The shares traded down 2.3% to $145.11 on Tuesday.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) Director Bernard Thiers sold 15,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $144.05, for a total transaction of $2,160,750.00. Following the transaction, the director directly owned 78,633 shares in the company, valued at $11,327,083.65. The trade was a 16.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Bernard Thiers also recently made the following trade(s):

• On Wednesday, August 5th, Bernard Thiers sold 13,393 shares of Mohawk Industries stock. The stock was sold at an average price of $134.98, for a total transaction of $1,807,787.14.

Mohawk Industries Trading Down 2.3%

MHK stock traded down $3.47 during midday trading on Tuesday, hitting $145.11. The stock had a trading volume of 1,634,615 shares, compared to its average volume of 976,866. The company's 50-day moving average price is $125.96 and its 200 day moving average price is $116.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.92 and a quick ratio of 1.13. The firm has a market cap of $9.83 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18. Mohawk Industries, Inc. has a 12-month low of $92.99 and a 12-month high of $151.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.14. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company posted $2.67 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that Mohawk Industries, Inc. will post 9.80 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Bank of America restated a "neutral" rating on shares of Mohawk Industries in a report on Monday. Barclays raised their target price 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. Wells Fargo & Company boosted their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Robert W. Baird upped their price target on shares of Mohawk Industries from $132.00 to $142.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $138.92.

Institutional Trading of Mohawk Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Mohawk Industries during the 2nd quarter valued at approximately $25,000. Elevation Wealth Partners LLC increased its holdings in Mohawk Industries by 122.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 220 shares of the company's stock worth $27,000 after purchasing an additional 121 shares during the last quarter. Basecamp Wealth Advisors LLC raised its position in shares of Mohawk Industries by 2,281.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company's stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at approximately $36,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 78.98% of the company's stock.

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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