Mohawk Industries, Inc. (NYSE:MHK) Insider Sells $301,500.00 in Stock

Key Points

• Insider Suzanne L. Helen sold 2,500 shares of Mohawk Industries stock at an average price of $120.60, representing a total transaction of $301,500.
• Mohawk Industries reported earnings of $2.77 per share for the last quarter, exceeding analysts’ expectations and showing revenue of $2.80 billion.
• Brokerages have updated price targets for Mohawk Industries, with Royal Bank of Canada setting a new target of $123.00 and Robert W. Baird raising theirs to $142.00.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) insider Suzanne L. Helen sold 2,500 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $120.60, for a total transaction of $301,500.00. Following the completion of the sale, the insider owned 91,084 shares of the company's stock, valued at $10,984,730.40. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mohawk Industries Price Performance

Mohawk Industries stock traded up $1.93 during midday trading on Friday, reaching $116.44. 290,801 shares of the company were exchanged, compared to its average volume of 807,630. The firm's 50-day simple moving average is $107.08 and its 200-day simple moving average is $111.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 3.77 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.15. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The firm's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the company earned $3.00 EPS. On average, analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Wall Street Analyst Weigh In

MHK has been the subject of several recent research reports. Barclays lifted their target price on shares of Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday. Wells Fargo & Company upped their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada reissued a "sector perform" rating and set a $123.00 price target (up previously from $119.00) on shares of Mohawk Industries in a research report on Monday. Robert W. Baird increased their price target on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Wall Street Zen lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average target price of $140.14.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Mohawk Industries by 13.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock valued at $787,000 after acquiring an additional 831 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Mohawk Industries by 78.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company's stock valued at $408,000 after acquiring an additional 1,566 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Mohawk Industries by 7.9% in the 1st quarter. Truist Financial Corp now owns 403,936 shares of the company's stock valued at $46,121,000 after acquiring an additional 29,480 shares during the last quarter. QSM Asset Management Ltd boosted its position in Mohawk Industries by 25.0% during the 1st quarter. QSM Asset Management Ltd now owns 63,566 shares of the company's stock worth $7,160,000 after acquiring an additional 12,700 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Mohawk Industries by 72.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 335,176 shares of the company's stock worth $39,930,000 after acquiring an additional 140,647 shares during the period. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.