Insider Selling: Mohawk Industries, Inc. (MHK) VP Sells 2,260 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton sold 2,260 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total value of $301,710.00. Following the completion of the sale, the vice president now owns 9,134 shares in the company, valued at approximately $1,219,389. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

MHK traded down $3.74 during mid-day trading on Thursday, reaching $129.26. 953,970 shares of the company traded hands, compared to its average volume of 1,037,459. The firm has a market cap of $9.64 billion, a PE ratio of 10.48, a P/E/G ratio of 2.07 and a beta of 1.53. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20. Mohawk Industries, Inc. has a 52-week low of $109.35 and a 52-week high of $250.25.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 7th. The company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.04. Mohawk Industries had a net margin of 8.63% and a return on equity of 12.40%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business earned $3.42 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts forecast that Mohawk Industries, Inc. will post 11.24 EPS for the current fiscal year.



A number of research firms have weighed in on MHK. Zelman & Associates downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th. Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Royal Bank of Canada downgraded Mohawk Industries from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $129.00 to $115.00 in a research report on Friday, January 11th. Credit Suisse Group set a $125.00 price target on Mohawk Industries and gave the company a “hold” rating in a research report on Friday, January 11th. Finally, Wells Fargo & Co raised their price objective on Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Monday, February 11th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $168.94.

Several hedge funds have recently modified their holdings of MHK. Russell Investments Group Ltd. grew its position in shares of Mohawk Industries by 32.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 19,280 shares of the company’s stock valued at $3,413,000 after acquiring an additional 4,755 shares during the period. HL Financial Services LLC purchased a new stake in Mohawk Industries in the 3rd quarter worth $447,000. Achmea Investment Management B.V. purchased a new stake in Mohawk Industries in the 3rd quarter worth $662,000. ING Groep NV purchased a new stake in Mohawk Industries in the 3rd quarter worth $267,000. Finally, Parametrica Management Ltd purchased a new stake in Mohawk Industries in the 3rd quarter worth $243,000. 77.80% of the stock is owned by hedge funds and other institutional investors.

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

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