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

Mohawk Industries, Inc. (NYSE:MHK) Director Bernard Thiers sold 15,000 shares of Mohawk Industries stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $144.05, for a total transaction of $2,160,750.00. Following the sale, the director owned 78,633 shares in the company, valued at $11,327,083.65. This represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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

Mohawk Industries Stock Performance

NYSE MHK opened at $145.11 on Wednesday. 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 1 year low of $92.99 and a 1 year high of $151.24. The company has a market capitalization of $8.44 billion, a PE ratio of 17.03, a P/E/G ratio of 2.13 and a beta of 1.18. The company has a fifty day moving average of $126.18 and a two-hundred day moving average of $116.84.

Mohawk Industries (NYSE:MHK) last posted its earnings results 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 return on equity of 7.47% and a net margin of 4.63%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the firm earned $2.67 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Mohawk Industries, Inc. will post 9.78 earnings per share for the current year.

Trending Headlines about Mohawk Industries

Here are the key news stories impacting Mohawk Industries this week:

• Positive Sentiment: Evercore ISI upgraded Mohawk to Outperform from In Line, citing an expected $1.1 billion buyback outlook—a potential source of shareholder returns and support for the stock. Evercore upgrade and buyback outlook
• Neutral Sentiment: Barclays raised its price target to $125 from $115 but kept an Equal Weight rating; Baird raised its target to $142 from $132 and maintained Neutral. Both targets remain below the share price cited in the reports, tempering the significance of the increases. Barclays rating Baird rating
• Negative Sentiment: Director Bernard Thiers sold 15,000 shares for about $2.16 million, reducing his direct stake by roughly 16%. Insider sales can raise concerns, although the filing does not establish the reason for the transaction. Mohawk insider share sale

Institutional Trading of Mohawk Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Mohawk Industries during the second quarter worth about $777,293,000. Pzena Investment Management LLC purchased a new stake in Mohawk Industries in the 2nd quarter valued at approximately $138,661,000. Canada Pension Plan Investment Board purchased a new stake in Mohawk Industries in the 2nd quarter valued at approximately $80,880,000. Donald Smith & CO. Inc. acquired a new position in Mohawk Industries during the 2nd quarter worth approximately $42,157,000. Finally, Bank of America Corp DE acquired a new position in Mohawk Industries during the 2nd quarter worth approximately $36,666,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Robert W. Baird lifted their price target on Mohawk Industries from $132.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday. Wall Street Zen downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Saturday. Bank of America reissued a “neutral” rating on shares of Mohawk Industries in a report on Monday. Truist Financial raised their target price on shares of Mohawk Industries from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada cut shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $130.00 to $112.00 in a report on Wednesday, October 7th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.