Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) Director Jeffrey Lorberbaum sold 10,000 shares of the company's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $148.34, for a total value of $1,483,400.00. Following the completion of the sale, the director owned 69,625 shares in the company, valued at $10,328,172.50. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Mohawk Industries Trading Up 5.5%
Shares of MHK stock opened at $153.38 on Thursday. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.95 and a beta of 1.18. The stock has a 50-day moving average of $126.57 and a 200-day moving average of $116.99. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Mohawk Industries, Inc. has a 1-year low of $92.99 and a 1-year high of $154.46.
Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.14. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The firm's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $2.67 earnings per share. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 9.76 earnings per share for the current year.
Analyst Ratings Changes
MHK has been the topic of a number of analyst reports. Royal Bank Of Canada lowered shares of Mohawk Industries from a "sector perform" rating to an "underperform" rating and reduced their price objective for the company from $130.00 to $112.00 in a research note on Wednesday, October 7th. Bank of America reissued a "neutral" rating on shares of Mohawk Industries in a research note on Monday. Weiss Ratings upgraded shares of Mohawk Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Wells Fargo & Company upped their price target on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Finally, Evercore upgraded Mohawk Industries from an "in-line" rating to an "outperform" rating and set a $171.00 price target for the company in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $138.92.
Read Our Latest Stock Analysis on MHK
Key Headlines Impacting Mohawk Industries
Here are the key news stories impacting Mohawk Industries this week:
- Positive Sentiment: Evercore ISI upgraded MHK to Outperform from In Line, pointing to an expected $1.1 billion share-buyback outlook that could support shareholder returns. Evercore upgrade and buyback outlook
- Neutral Sentiment: Baird raised its price target to $142 from $132 but kept a Neutral rating. Barclays lifted its target to $125 from $115 and maintained Equal Weight. The higher targets are positive revisions, though both firms remain cautious. Baird price target update Barclays price target update
- Negative Sentiment: Two directors sold a combined 25,000 shares for approximately $3.64 million. Bernard Thiers reduced his stake by about 16%, and Jeffrey Lorberbaum’s sale lowered his position by roughly 13%. Insider sales can concern investors, although the filings do not state the reasons for the transactions. Director share sales Lorberbaum SEC filing
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Mohawk Industries in the second quarter worth $25,000. Elevation Wealth Partners LLC increased its stake in Mohawk Industries by 122.2% in the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company's stock valued at $27,000 after purchasing an additional 121 shares in the last quarter. Basecamp Wealth Advisors LLC increased its stake in Mohawk Industries by 2,281.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company's stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in shares of Mohawk Industries during the third quarter valued at about $36,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in shares of Mohawk Industries during the third quarter valued at about $36,000. Institutional investors and hedge funds own 78.98% of the company's stock.
Mohawk Industries Company Profile
(
Get Free Report)
Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.
Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.
The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
