Insider Buying: Mohawk Industries, Inc. (MHK) Director Purchases 10,000 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) Director Filip Balcaen purchased 10,000 shares of the stock in a transaction that occurred on Thursday, November 29th. The shares were purchased at an average price of $127.48 per share, for a total transaction of $1,274,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Filip Balcaen also recently made the following trade(s):

  • On Monday, October 29th, Filip Balcaen purchased 250,000 shares of Mohawk Industries stock. The shares were purchased at an average price of $118.42 per share, for a total transaction of $29,605,000.00.

NYSE MHK traded down $2.27 during trading on Monday, reaching $125.79. 76,126 shares of the company traded hands, compared to its average volume of 899,086. The company has a current ratio of 1.54, a quick ratio of 0.79 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.56 and a beta of 1.61. Mohawk Industries, Inc. has a 1-year low of $113.45 and a 1-year high of $286.85.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, October 25th. The company reported $3.29 earnings per share for the quarter, missing analysts’ consensus estimates of $3.58 by ($0.29). The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. Mohawk Industries had a net margin of 8.81% and a return on equity of 13.49%. On average, analysts predict that Mohawk Industries, Inc. will post 12.32 earnings per share for the current year.

Mohawk Industries announced that its board has authorized a share repurchase plan on Thursday, October 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating on the stock in a research note on Monday, October 29th. Royal Bank of Canada lowered Mohawk Industries from an “outperform” rating to a “sector perform” rating and set a $190.00 price target on the stock. in a research note on Monday, October 15th. Loop Capital lowered their price target on Mohawk Industries to $165.00 and set a “hold” rating on the stock in a research note on Tuesday, October 16th. They noted that the move was a valuation call. Robert W. Baird set a $192.00 price target on Mohawk Industries and gave the company a “buy” rating in a research note on Tuesday, October 16th. Finally, Stifel Nicolaus lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $171.63.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WESPAC Advisors SoCal LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter worth approximately $105,000. Qube Research & Technologies Ltd acquired a new position in shares of Mohawk Industries in the 2nd quarter worth approximately $110,000. SRS Capital Advisors Inc. acquired a new position in shares of Mohawk Industries in the 3rd quarter worth approximately $118,000. Amica Retiree Medical Trust boosted its holdings in shares of Mohawk Industries by 134.3% in the 3rd quarter. Amica Retiree Medical Trust now owns 848 shares of the company’s stock worth $149,000 after acquiring an additional 486 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Mohawk Industries by 2,250.0% in the 2nd quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock worth $151,000 after acquiring an additional 675 shares in the last quarter. 78.20% of the stock is currently owned by institutional investors.

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About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Insider Buying and Selling by Quarter for Mohawk Industries (NYSE:MHK)

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