Mohawk Industries, Inc. (NYSE:MHK) Chairman Jeffrey S. Lorberbaum sold 13,400 shares of Mohawk Industries stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $186.74, for a total transaction of $2,502,316.00. Following the sale, the chairman now owns 45,187 shares of the company’s stock, valued at approximately $8,438,220.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of NYSE MHK opened at $186.91 on Tuesday. The company has a market cap of $13.84 billion, a P/E ratio of 13.73, a PEG ratio of 1.96 and a beta of 1.31. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 0.26. Mohawk Industries, Inc. has a 52-week low of $177.00 and a 52-week high of $286.85.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $3.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.90 by ($0.39). Mohawk Industries had a net margin of 9.34% and a return on equity of 14.35%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the previous year, the firm posted $3.72 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. equities research analysts predict that Mohawk Industries, Inc. will post 13.71 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Corbyn Investment Management Inc. MD lifted its stake in Mohawk Industries by 40.4% in the second quarter. Corbyn Investment Management Inc. MD now owns 57,696 shares of the company’s stock valued at $12,363,000 after buying an additional 16,602 shares in the last quarter. AMI Investment Management Inc. lifted its stake in Mohawk Industries by 10.8% in the second quarter. AMI Investment Management Inc. now owns 12,775 shares of the company’s stock valued at $2,737,000 after buying an additional 1,245 shares in the last quarter. Toronto Dominion Bank lifted its stake in Mohawk Industries by 34.6% in the second quarter. Toronto Dominion Bank now owns 45,891 shares of the company’s stock valued at $9,832,000 after buying an additional 11,795 shares in the last quarter. First Trust Advisors LP lifted its stake in Mohawk Industries by 36.0% in the second quarter. First Trust Advisors LP now owns 77,556 shares of the company’s stock valued at $16,618,000 after buying an additional 20,517 shares in the last quarter. Finally, Accuvest Global Advisors bought a new position in Mohawk Industries in the second quarter valued at approximately $697,000. 81.58% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the stock. ValuEngine cut shares of Mohawk Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. Cleveland Research restated a “hold” rating on shares of Mohawk Industries in a report on Wednesday, September 12th. Raymond James cut shares of Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a report on Friday, July 27th. Jefferies Financial Group decreased their price objective on shares of Mohawk Industries from $294.00 to $268.00 and set a “buy” rating for the company in a report on Tuesday, July 31st. Finally, Credit Suisse Group decreased their price objective on shares of Mohawk Industries from $275.00 to $220.00 and set an “outperform” rating for the company in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. Mohawk Industries currently has a consensus rating of “Buy” and a consensus target price of $254.07.

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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