Mohawk Industries (MHK) CFO Sells $344,584.88 in Stock

Mohawk Industries (NYSE:MHK) CFO Frank H. Boykin sold 1,388 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $248.26, for a total transaction of $344,584.88. Following the completion of the transaction, the chief financial officer now directly owns 17,505 shares in the company, valued at approximately $4,345,791.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

MHK stock opened at $236.08 on Friday. 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 52 week low of $223.99 and a 52 week high of $286.85. The stock has a market capitalization of $17,824.90, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.68 and a beta of 1.36.

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Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 8th. The company reported $3.42 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the business posted $3.26 earnings per share. Mohawk Industries’s revenue was up 8.5% compared to the same quarter last year. analysts predict that Mohawk Industries will post 15.65 EPS for the current year.

A number of research analysts have weighed in on MHK shares. Goldman Sachs lowered shares of Mohawk Industries from a “conviction-buy” rating to a “buy” rating and cut their price target for the company from $306.00 to $292.00 in a research note on Thursday, March 1st. Zacks Investment Research lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Longbow Research raised shares of Mohawk Industries from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Robert W. Baird lowered their target price on shares of Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Finally, ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $293.07.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pensionfund DSM Netherlands bought a new stake in Mohawk Industries during the fourth quarter worth about $3,035,000. Quantbot Technologies LP bought a new position in shares of Mohawk Industries in the third quarter worth about $5,281,000. National Pension Service lifted its holdings in shares of Mohawk Industries by 2.5% in the fourth quarter. National Pension Service now owns 69,142 shares of the company’s stock worth $19,076,000 after acquiring an additional 1,672 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Mohawk Industries by 10.4% in the third quarter. Parametric Portfolio Associates LLC now owns 105,131 shares of the company’s stock worth $26,021,000 after acquiring an additional 9,896 shares during the last quarter. Finally, IBM Retirement Fund lifted its holdings in shares of Mohawk Industries by 72.4% in the third quarter. IBM Retirement Fund now owns 1,593 shares of the company’s stock worth $436,000 after acquiring an additional 669 shares during the last quarter. 78.68% of the stock is owned by institutional investors and hedge funds.

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About Mohawk Industries

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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