Mohawk Industries (NYSE:MHK) Stock: Insider Mauro Vandini Sells 5,000 Shares

Mohawk Industries, Inc. (NYSE:MHK) insider Mauro Vandini sold 5,000 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $155.73, for a total value of $778,650.00. Following the sale, the insider directly owned 32,573 shares of the company’s stock, valued at $5,072,593.29. This represents a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mohawk Industries Trading Down 3.2%

Shares of MHK opened at $151.64 on Wednesday. The stock has a fifty day moving average price of $128.32 and a two-hundred day moving average price of $117.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.91. Mohawk Industries, Inc. has a 52-week low of $92.99 and a 52-week high of $158.81. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.48 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 29th. The company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.58 by $0.14. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business earned $2.67 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts predict that Mohawk Industries, Inc. will post 9.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MHK has been the subject of several research reports. Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Robert W. Baird upped their target price on shares of Mohawk Industries from $132.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. 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. Evercore raised shares of Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $171.00 price target on the stock in a research note on Monday, November 2nd. Finally, Weiss Ratings raised shares of Mohawk Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, November 2nd. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries has an average rating of “Hold” and an average target price of $138.92.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors have recently modified their holdings of MHK. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Mohawk Industries in the second quarter valued at approximately $25,000. Elevation Wealth Partners LLC grew 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 acquiring an additional 121 shares during the period. Basecamp Wealth Advisors LLC grew its holdings in Mohawk Industries by 2,281.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock worth $26,000 after acquiring an additional 251 shares during the period. Provenance Wealth Advisors LLC bought a new stake in shares of Mohawk Industries during the 3rd quarter valued at $36,000. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in shares of Mohawk Industries during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc. is a global flooring manufacturer headquartered in Calhoun, Georgia. Its roots trace to a carpet-weaving business established in Amsterdam, New York, in 1878. The company makes flooring for residential and commercial customers, including carpet, rugs, ceramic and porcelain tile, natural stone, hardwood, laminate and luxury vinyl products. Its portfolio includes brands such as Mohawk, Daltile, American Olean, Karastan and Pergo. Mohawk serves markets across North America and internationally, with manufacturing and distribution operations in several regions.