Insider Selling: Mohawk Industries, Inc. (NYSE:MHK) Insider Sells 10,500 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $114.39 on Friday. Mohawk Industries, Inc. has a one year low of $104.88 and a one year high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The company has a 50 day moving average price of $120.57 and a 200 day moving average price of $135.26. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently bought and sold shares of MHK. Principal Financial Group Inc. increased its position in shares of Mohawk Industries by 4.4% in the third quarter. Principal Financial Group Inc. now owns 61,724 shares of the company’s stock worth $9,918,000 after acquiring an additional 2,601 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Mohawk Industries in the third quarter worth $273,000. Apollon Wealth Management LLC acquired a new stake in shares of Mohawk Industries in the third quarter worth $242,000. Aigen Investment Management LP acquired a new stake in shares of Mohawk Industries in the third quarter worth $491,000. Finally, MQS Management LLC acquired a new stake in shares of Mohawk Industries in the third quarter worth $341,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MHK shares. The Goldman Sachs Group reduced their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Raymond James reaffirmed a “strong-buy” rating and issued a $165.00 price target (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Evercore ISI reduced their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Bank of America cut their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 10th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Mohawk Industries has an average rating of “Moderate Buy” and a consensus price target of $146.92.

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