Mohawk Industries (NYSE:MHK) Stock: Insider Suzanne Helen Sells 1,646 Shares

Key Points

• Insider Suzanne Helen sold 1,646 Mohawk Industries shares at an average price of $146.60, totaling about $241,304. She retained 140,000 shares after the sale.
• Mohawk reported quarterly EPS of $2.72, beating analysts’ $2.58 estimate, while revenue of $2.79 billion fell short of expectations; revenue grew 1% year over year.
• Shares fell 1.6% to $150.86 in Thursday trading. Analysts’ consensus rating was Hold, with an average price target of $138.92.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) insider Suzanne Helen sold 1,646 shares of the company's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $146.60, for a total value of $241,303.60. Following the transaction, the insider directly owned 140,000 shares of the company's stock, valued at approximately $20,524,000. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mohawk Industries Stock Down 1.6%

Shares of MHK traded down $2.50 during mid-day trading on Thursday, hitting $150.86. 1,656,683 shares of the company's stock were exchanged, compared to its average volume of 984,065. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.09. Mohawk Industries, Inc. has a 52 week low of $92.99 and a 52 week high of $155.88. The company has a market cap of $8.77 billion, a PE ratio of 17.71, a P/E/G ratio of 1.95 and a beta of 1.18. The company has a 50-day simple moving average of $126.57 and a 200 day simple moving average of $116.99.

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, topping analysts' consensus estimates of $2.58 by $0.14. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm posted $2.67 earnings per share. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts forecast that Mohawk Industries, Inc. will post 9.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC lifted its position in shares of Mohawk Industries by 18.3% in the second quarter. Tidal Investments LLC now owns 61,723 shares of the company's stock valued at $7,489,000 after buying an additional 9,558 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Mohawk Industries during the 2nd quarter worth approximately $1,608,000. Bank of America Corp DE acquired a new position in shares of Mohawk Industries during the 2nd quarter worth approximately $36,666,000. Ieq Capital LLC bought a new stake in Mohawk Industries in the 2nd quarter valued at $21,474,000. Finally, Illinois Municipal Retirement Fund bought a new stake in Mohawk Industries in the 1st quarter valued at $3,071,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MHK. Barclays boosted 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. Royal Bank Of Canada downgraded shares of Mohawk Industries from a "sector perform" rating to an "underperform" rating and lowered their target price for the stock from $130.00 to $112.00 in a report on Wednesday, October 7th. Weiss Ratings upgraded shares of Mohawk Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Wall Street Zen lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Saturday, October 31st. Finally, Wells Fargo & Company increased their price target on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average 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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