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.
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.
COPYRIGHT VIOLATION WARNING: “Mohawk Industries (MHK) CFO Sells $344,584.88 in Stock” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/07/mohawk-industries-inc-mhk-cfo-sells-344584-88-in-stock.html.
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).
Receive News & Ratings for Mohawk Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries and related companies with MarketBeat.com's FREE daily email newsletter.