Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton Sells 755 Shares

Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mohawk Industries Stock Down 0.4 %

Mohawk Industries stock traded down $0.60 during midday trading on Tuesday, hitting $162.10. The stock had a trading volume of 1,133,904 shares, compared to its average volume of 726,995. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.35 billion, a P/E ratio of -24.79, a P/E/G ratio of 1.88 and a beta of 1.38. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $163.84. The business has a fifty day moving average price of $119.76 and a 200 day moving average price of $116.95.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.76 earnings per share. Research analysts predict that Mohawk Industries, Inc. will post 9.49 EPS for the current year.

Institutional Trading of Mohawk Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in Mohawk Industries in the second quarter valued at about $175,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Mohawk Industries during the second quarter valued at approximately $202,000. Blackhawk Capital Partners LLC. grew its holdings in shares of Mohawk Industries by 14.2% during the second quarter. Blackhawk Capital Partners LLC. now owns 1,997 shares of the company’s stock valued at $227,000 after purchasing an additional 249 shares during the last quarter. Speece Thorson Capital Group Inc. grew its holdings in Mohawk Industries by 12.9% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 143,944 shares of the company’s stock worth $16,351,000 after buying an additional 16,399 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Mohawk Industries by 4.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,622 shares of the company’s stock worth $1,207,000 after buying an additional 467 shares in the last quarter. 78.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James upgraded Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a research note on Monday, June 10th. Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $177.00 in a research note on Friday. Loop Capital boosted their price target on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Robert W. Baird boosted their price target on Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mohawk Industries has an average rating of “Moderate Buy” and a consensus target price of $153.42.

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.