Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton sold 763 shares of the stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $125.27, for a total transaction of $95,581.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Mohawk Industries stock opened at $121.30 on Thursday. Mohawk Industries, Inc. has a 1-year low of $113.45 and a 1-year high of $284.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.79. The company has a market capitalization of $9.00 billion, a PE ratio of 8.91, a PEG ratio of 1.48 and a beta of 1.61.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, October 25th. The company reported $3.29 earnings per share for the quarter, missing the consensus estimate of $3.58 by ($0.29). Mohawk Industries had a net margin of 8.81% and a return on equity of 13.49%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion. As a group, equities analysts forecast that Mohawk Industries, Inc. will post 12.32 earnings per share for the current fiscal year.
Mohawk Industries announced that its board has authorized a stock repurchase plan on Thursday, October 25th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms have commented on MHK. Credit Suisse Group reiterated a “neutral” rating on shares of Mohawk Industries in a report on Monday, October 29th. Jefferies Financial Group downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Cleveland Research reiterated a “hold” rating on shares of Mohawk Industries in a report on Wednesday, September 12th. Bank of America set a $210.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a report on Thursday, October 11th. Finally, Barclays cut their price objective on shares of Mohawk Industries from $215.00 to $140.00 and set a “buy” rating for the company in a report on Monday, October 29th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $171.63.
Several institutional investors have recently bought and sold shares of the company. WESPAC Advisors SoCal LLC purchased a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $105,000. Qube Research & Technologies Ltd purchased a new position in shares of Mohawk Industries during the 2nd quarter worth approximately $110,000. SRS Capital Advisors Inc. purchased a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $118,000. Amica Retiree Medical Trust boosted its position in shares of Mohawk Industries by 134.3% during the 3rd quarter. Amica Retiree Medical Trust now owns 848 shares of the company’s stock worth $149,000 after purchasing an additional 486 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Mohawk Industries by 2,250.0% during the 2nd quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock worth $151,000 after purchasing an additional 675 shares during the period. 78.20% of the stock is owned by institutional investors and hedge funds.
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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).
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