Traders Purchase Large Volume of Put Options on Mohawk Industries (MHK)

Mohawk Industries, Inc. (NYSE:MHK) was the recipient of some unusual options trading activity on Monday. Investors bought 3,107 put options on the company. This represents an increase of approximately 3,471% compared to the average daily volume of 87 put options.

A number of research firms have recently issued reports on MHK. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price for the company in a research note on Monday, April 16th. Credit Suisse Group cut their target price on shares of Mohawk Industries from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, April 27th. Loop Capital cut their target price on shares of Mohawk Industries to $227.00 and set a “hold” rating for the company in a research note on Friday, April 27th. Robert W. Baird set a $272.00 target price on shares of Mohawk Industries and gave the stock a “buy” rating in a research note on Monday, April 30th. Finally, Stifel Nicolaus cut their target price on shares of Mohawk Industries from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, April 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $279.67.

In other news, Director Filip Balcaen purchased 25,912 shares of the business’s stock in a transaction on Monday, May 14th. The stock was purchased at an average price of $209.89 per share, for a total transaction of $5,438,669.68. Following the completion of the purchase, the director now directly owns 776 shares in the company, valued at approximately $162,874.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bernard Thiers sold 10,000 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $212.60, for a total transaction of $2,126,000.00. Following the completion of the sale, the insider now owns 45,156 shares of the company’s stock, valued at approximately $9,600,165.60. The disclosure for this sale can be found here. In the last quarter, insiders acquired 102,157 shares of company stock valued at $21,387,408. Corporate insiders own 16.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Nicola Wealth Management LTD. bought a new position in Mohawk Industries during the first quarter worth about $2,322,000. Suntrust Banks Inc. increased its position in Mohawk Industries by 101.2% during the first quarter. Suntrust Banks Inc. now owns 4,816 shares of the company’s stock worth $1,117,000 after acquiring an additional 2,422 shares during the period. Polar Asset Management Partners Inc. increased its position in Mohawk Industries by 148.5% during the first quarter. Polar Asset Management Partners Inc. now owns 129,200 shares of the company’s stock worth $30,003,000 after acquiring an additional 77,200 shares during the period. WINTON GROUP Ltd increased its position in Mohawk Industries by 83.2% during the first quarter. WINTON GROUP Ltd now owns 10,742 shares of the company’s stock worth $2,495,000 after acquiring an additional 4,879 shares during the period. Finally, CIBC World Markets Inc. increased its position in Mohawk Industries by 236.9% during the first quarter. CIBC World Markets Inc. now owns 8,162 shares of the company’s stock worth $1,895,000 after acquiring an additional 5,739 shares during the period. 77.21% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries opened at $213.86 on Tuesday, MarketBeat reports. Mohawk Industries has a 52 week low of $202.75 and a 52 week high of $286.85. The stock has a market cap of $15.98 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.36 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 1.54.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, April 26th. The company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Mohawk Industries had a net margin of 10.12% and a return on equity of 15.05%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the firm earned $2.72 earnings per share. Mohawk Industries’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities research analysts anticipate that Mohawk Industries will post 15.4 earnings per share for the current year.

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).

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