Mohawk Industries (MHK) Hits New 12-Month Low at $143.68

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Mohawk Industries, Inc. (NYSE:MHK) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $143.68 and last traded at $149.95, with a volume of 78345 shares trading hands. The stock had previously closed at $148.38.

A number of research analysts recently issued reports on MHK shares. Gabelli reiterated a “buy” rating on shares of Mohawk Industries in a research report on Friday, July 27th. Northcoast Research set a $225.00 target price on shares of Mohawk Industries and gave the company a “buy” rating in a research report on Friday, July 27th. Robert W. Baird reiterated a “buy” rating and set a $212.00 target price on shares of Mohawk Industries in a research report on Friday, July 27th. Stifel Nicolaus dropped their target price on shares of Mohawk Industries from $290.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Finally, SunTrust Banks reiterated a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a research report on Friday, July 27th. Three analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $225.07.

The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.59 and a beta of 1.29.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Wednesday, July 25th. The company reported $3.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.90 by ($0.39). Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the previous year, the company posted $3.72 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Mohawk Industries, Inc. will post 13.66 earnings per share for the current fiscal year.

In other Mohawk Industries news, insider Bernard Thiers sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $190.00, for a total transaction of $950,000.00. Following the transaction, the insider now owns 40,156 shares in the company, valued at $7,629,640. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of the company’s stock in a transaction 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 transaction, the chairman now owns 45,187 shares in the company, valued at approximately $8,438,220.38. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 110,000 shares of company stock worth $20,167,250. Corporate insiders own 16.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Principal Financial Group Inc. raised its holdings in Mohawk Industries by 0.3% during the first quarter. Principal Financial Group Inc. now owns 1,199,943 shares of the company’s stock worth $278,651,000 after buying an additional 3,493 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Mohawk Industries in the first quarter valued at about $304,000. United Capital Financial Advisers LLC purchased a new stake in shares of Mohawk Industries in the first quarter valued at about $312,000. Millennium Management LLC raised its holdings in shares of Mohawk Industries by 103.2% in the first quarter. Millennium Management LLC now owns 91,529 shares of the company’s stock valued at $21,255,000 after purchasing an additional 46,476 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of Mohawk Industries by 3.1% in the first quarter. Xact Kapitalforvaltning AB now owns 10,403 shares of the company’s stock valued at $2,416,000 after purchasing an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.42% of the company’s stock.

Mohawk Industries Company Profile (NYSE:MHK)

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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