Insider Selling: Mohawk Industries, Inc. (NYSE:MHK) Insider Sells 4,000 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $127.75, for a total transaction of $511,000.00. Following the sale, the insider now directly owns 108,084 shares of the company’s stock, valued at approximately $13,807,731. This represents a 3.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Mohawk Industries Stock Down 0.8 %

Shares of MHK traded down $1.07 during midday trading on Tuesday, hitting $125.64. The company had a trading volume of 151,102 shares, compared to its average volume of 715,720. Mohawk Industries, Inc. has a 1 year low of $96.28 and a 1 year high of $164.29. The company’s 50-day simple moving average is $142.06 and its 200-day simple moving average is $139.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The firm has a market capitalization of $7.93 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.45 and a beta of 1.38.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MHK shares. Wells Fargo & Company dropped their price target on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday. Barclays reduced their price target on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Jefferies Financial Group upped their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Truist Financial cut their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.17.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Mohawk Industries by 4.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,573 shares of the company’s stock valued at $1,315,000 after buying an additional 493 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Mohawk Industries by 7.0% during the second quarter. Fifth Third Bancorp now owns 2,343 shares of the company’s stock worth $266,000 after purchasing an additional 154 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. increased its position in shares of Mohawk Industries by 11.2% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 667,516 shares of the company’s stock worth $75,823,000 after purchasing an additional 67,452 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mohawk Industries by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 311,268 shares of the company’s stock valued at $35,357,000 after purchasing an additional 7,194 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Mohawk Industries by 0.7% in the 2nd quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock valued at $1,652,000 after purchasing an additional 100 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

About Mohawk Industries

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, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.