Rodney David Patton Sells 387 Shares of Mohawk Industries, Inc. (MHK) Stock
Mohawk Industries, Inc. (NYSE:MHK) VP Rodney David Patton sold 387 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $242.00, for a total transaction of $93,654.00. Following the completion of the transaction, the vice president now directly owns 7,061 shares in the company, valued at approximately $1,708,762. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Mohawk Industries, Inc. (MHK) traded up 0.81% during midday trading on Monday, reaching $243.88. 194,895 shares of the company traded hands. Mohawk Industries, Inc. has a 12 month low of $175.52 and a 12 month high of $245.90. The stock’s market capitalization is $18.13 billion. The firm has a 50 day moving average of $235.75 and a 200-day moving average of $222.02.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 27th. The company reported $2.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.01. Mohawk Industries had a net margin of 9.05% and a return on equity of 13.60%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the company earned $2.38 earnings per share. Mohawk Industries’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that Mohawk Industries, Inc. will post $13.34 EPS for the current fiscal year.
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MHK has been the topic of a number of research reports. Barclays PLC raised their target price on shares of Mohawk Industries from $251.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday, March 20th. Nomura initiated coverage on shares of Mohawk Industries in a research note on Wednesday, April 12th. They issued a “buy” rating and a $280.00 target price on the stock. Instinet reissued a “buy” rating and issued a $280.00 target price on shares of Mohawk Industries in a research note on Friday, April 14th. MKM Partners reissued a “buy” rating and issued a $255.00 target price on shares of Mohawk Industries in a research note on Tuesday, April 18th. Finally, Stifel Nicolaus raised their target price on shares of Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Mohawk Industries has an average rating of “Buy” and a consensus target price of $256.50.
Institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new position in Mohawk Industries during the fourth quarter valued at approximately $1,168,000. Franklin Resources Inc. boosted its position in Mohawk Industries by 4.9% in the fourth quarter. Franklin Resources Inc. now owns 1,405 shares of the company’s stock valued at $281,000 after buying an additional 65 shares during the last quarter. National Pension Service boosted its position in Mohawk Industries by 5.4% in the first quarter. National Pension Service now owns 59,074 shares of the company’s stock valued at $13,523,000 after buying an additional 3,037 shares during the last quarter. Quadrature Capital Ltd boosted its position in Mohawk Industries by 192.4% in the fourth quarter. Quadrature Capital Ltd now owns 28,322 shares of the company’s stock valued at $5,655,000 after buying an additional 18,635 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Mohawk Industries during the fourth quarter valued at approximately $408,000. Hedge funds and other institutional investors own 77.54% of the company’s stock.
About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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