Mohawk Industries, Inc. (NYSE:MHK) insider John C. Turner, Jr. sold 944 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $244.62, for a total transaction of $230,921.28. Following the completion of the transaction, the insider now directly owns 10,412 shares in the company, valued at $2,546,983.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Mohawk Industries, Inc. (NYSE:MHK) opened at $247.90 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80. Mohawk Industries, Inc. has a one year low of $223.84 and a one year high of $286.85. The company has a market cap of $18,338.43, a PE ratio of 18.10, a P/E/G ratio of 1.73 and a beta of 1.37.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 8th. The company reported $3.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.10. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company posted $3.26 earnings per share. Mohawk Industries’s revenue was up 8.5% compared to the same quarter last year. research analysts anticipate that Mohawk Industries, Inc. will post 15.65 EPS for the current fiscal year.
Several brokerages have recently weighed in on MHK. Jefferies Group began coverage on shares of Mohawk Industries in a research report on Tuesday, December 12th. They issued a “buy” rating and a $330.00 price objective on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $310.00 price objective (up from $303.00) on shares of Mohawk Industries in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 price objective on the stock in a research report on Friday, January 19th. ValuEngine lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Loop Capital started coverage on shares of Mohawk Industries in a research note on Thursday, March 1st. They issued a “hold” rating and a $261.00 price target on the stock. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $293.07.
A number of institutional investors have recently made changes to their positions in the business. Oakbrook Investments LLC grew its stake in Mohawk Industries by 4.2% during the fourth quarter. Oakbrook Investments LLC now owns 4,540 shares of the company’s stock worth $1,253,000 after buying an additional 185 shares in the last quarter. Zions Bancorporation grew its stake in Mohawk Industries by 6.5% during the third quarter. Zions Bancorporation now owns 3,210 shares of the company’s stock worth $795,000 after buying an additional 196 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Mohawk Industries by 0.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 30,845 shares of the company’s stock worth $8,510,000 after buying an additional 200 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in Mohawk Industries by 2.9% during the fourth quarter. Catalyst Capital Advisors LLC now owns 7,200 shares of the company’s stock worth $1,986,000 after buying an additional 200 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its stake in Mohawk Industries by 3.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 6,100 shares of the company’s stock worth $1,683,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
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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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