Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton Sells 279 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton sold 279 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $83.91, for a total transaction of $23,410.89. Following the transaction, the vice president now directly owns 14,208 shares in the company, valued at approximately $1,192,193.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mohawk Industries Trading Up 1.1 %

Shares of MHK stock opened at $85.26 on Tuesday. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $130.63. The firm’s fifty day simple moving average is $84.00 and its 200 day simple moving average is $95.21. The firm has a market capitalization of $5.43 billion, a P/E ratio of -9.94 and a beta of 1.27. The company has a current ratio of 1.73, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 26th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. Mohawk Industries had a negative net margin of 4.88% and a positive return on equity of 6.91%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the firm posted $3.34 earnings per share. Mohawk Industries’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 9.09 EPS for the current year.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gyon Technologies Capital Management LP acquired a new stake in Mohawk Industries during the fourth quarter worth $30,000. Rockefeller Capital Management L.P. boosted its stake in Mohawk Industries by 143.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock worth $31,000 after buying an additional 181 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Mohawk Industries by 156.8% during the second quarter. WASHINGTON TRUST Co now owns 339 shares of the company’s stock worth $35,000 after buying an additional 207 shares in the last quarter. Natixis acquired a new stake in Mohawk Industries during the second quarter worth $40,000. Finally, Covestor Ltd boosted its stake in Mohawk Industries by 191.0% during the first quarter. Covestor Ltd now owns 390 shares of the company’s stock worth $49,000 after buying an additional 256 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MHK. Wells Fargo & Company began coverage on shares of Mohawk Industries in a research report on Tuesday, October 17th. They set an “underweight” rating and a $85.00 price objective on the stock. Barclays cut their price objective on shares of Mohawk Industries from $98.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, October 12th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. TheStreet lowered shares of Mohawk Industries from a “c-” rating to a “d+” rating in a research report on Thursday, October 26th. Finally, Truist Financial dropped their price target on shares of Mohawk Industries from $130.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Mohawk Industries presently has a consensus rating of “Hold” and an average price target of $103.13.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).