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 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.
TRADEMARK VIOLATION NOTICE: “Insider Buying: Mohawk Industries, Inc. (MHK) Director Purchases 10,000 Shares of Stock” was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.com-unik.info/2018/12/03/insider-buying-mohawk-industries-inc-mhk-director-purchases-10000-shares-of-stock.html.
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).
Featured Article: How does a reverse stock split work?
Receive News & Ratings for Mohawk Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries and related companies with MarketBeat.com's FREE daily email newsletter.