Insider Selling: Mohawk Industries (NYSE:MHK) Insider Sells 944 Shares of Stock

Mohawk Industries (NYSE:MHK) insider John C. Turner, Jr. sold 944 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,546,983.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of NYSE:MHK traded down $3.42 during trading on Friday, reaching $236.08. The stock had a trading volume of 606,586 shares, compared to its average volume of 689,345. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80. The firm has a market cap of $17,824.90, a PE ratio of 17.35, a P/E/G ratio of 1.68 and a beta of 1.36. Mohawk Industries has a fifty-two week low of $223.99 and a fifty-two week high of $286.85.

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Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 8th. The company reported $3.42 EPS for the quarter, topping the 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 firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business posted $3.26 earnings per share. Mohawk Industries’s revenue for the quarter was up 8.5% compared to the same quarter last year. sell-side analysts expect that Mohawk Industries will post 15.65 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Mohawk Industries by 10.4% during the fourth quarter. BlackRock Inc. now owns 5,046,157 shares of the company’s stock worth $1,392,234,000 after purchasing an additional 477,056 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. grew its stake in Mohawk Industries by 4.9% during the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,377,558 shares of the company’s stock worth $340,959,000 after buying an additional 64,707 shares during the period. Dimensional Fund Advisors LP grew its stake in Mohawk Industries by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,119,683 shares of the company’s stock worth $277,137,000 after buying an additional 47,261 shares during the period. Wells Fargo & Company MN grew its stake in Mohawk Industries by 16.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,013,789 shares of the company’s stock worth $279,705,000 after buying an additional 141,022 shares during the period. Finally, Third Point LLC grew its stake in Mohawk Industries by 2.9% during the third quarter. Third Point LLC now owns 900,000 shares of the company’s stock worth $222,759,000 after buying an additional 25,000 shares during the period. 78.68% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently weighed in on MHK. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Loop Capital began coverage on shares of Mohawk Industries in a research note on Thursday, March 1st. They set a “hold” rating and a $261.00 price target on the stock. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $303.00 price target on the stock in a research note on Monday, February 5th. Robert W. Baird dropped their price objective on shares of Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Finally, Longbow Research upgraded shares of Mohawk Industries from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $293.07.

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Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Insider Buying and Selling by Quarter for Mohawk Industries (NYSE:MHK)

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