Mohawk Industries, Inc. (NYSE:MHK) saw some unusual options trading on Monday. Traders purchased 2,040 call options on the stock. This is an increase of approximately 1,755% compared to the typical volume of 110 call options.
Several brokerages have issued reports on MHK. Zacks Investment Research lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Robert W. Baird dropped their price target on Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Loop Capital began coverage on Mohawk Industries in a research note on Thursday, March 1st. They set a “hold” rating and a $261.00 price target for the company. Finally, Longbow Research raised Mohawk Industries from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $293.07.
In other Mohawk Industries news, Director William Henry Runge III acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average price of $250.87 per share, with a total value of $125,435.00. Following the completion of the purchase, the director now owns 2,335 shares of the company’s stock, valued at $585,781.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard Thiers sold 17,383 shares of Mohawk Industries stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $250.00, for a total value of $4,345,750.00. Following the sale, the insider now directly owns 50,003 shares of the company’s stock, valued at approximately $12,500,750. The disclosure for this sale can be found here. Insiders have sold 33,207 shares of company stock valued at $8,258,780 in the last three months. 17.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oakbrook Investments LLC increased its holdings in Mohawk Industries by 4.2% during the 4th quarter. Oakbrook Investments LLC now owns 4,540 shares of the company’s stock valued at $1,253,000 after purchasing an additional 185 shares during the period. Zions Bancorporation increased its holdings in Mohawk Industries by 6.5% during the 3rd quarter. Zions Bancorporation now owns 3,210 shares of the company’s stock valued at $795,000 after purchasing an additional 196 shares during the period. Nisa Investment Advisors LLC increased its holdings in Mohawk Industries by 0.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 30,845 shares of the company’s stock valued at $8,510,000 after purchasing an additional 200 shares during the period. Catalyst Capital Advisors LLC increased its holdings in Mohawk Industries by 2.9% during the 4th quarter. Catalyst Capital Advisors LLC now owns 7,200 shares of the company’s stock valued at $1,986,000 after purchasing an additional 200 shares during the period. Finally, New Mexico Educational Retirement Board increased its holdings in Mohawk Industries by 3.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 6,100 shares of the company’s stock valued at $1,683,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 78.68% of the company’s stock.
Mohawk Industries (NYSE MHK) traded down $1.70 on Wednesday, hitting $248.89. The stock had a trading volume of 499,692 shares, compared to its average volume of 745,937. The stock has a market capitalization of $18,452.30, a P/E ratio of 19.17, a P/E/G ratio of 1.74 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 1.53. Mohawk Industries has a 1 year low of $223.84 and a 1 year high of $286.85.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 8th. The company reported $3.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.32 by $0.10. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.26 earnings per share. analysts expect that Mohawk Industries will post 15.66 earnings per share for the current year.
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About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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