Mohawk Industries, Inc. (MHK) Stock Could Soon Reward Patient Investors

Mohawk Industries, Inc. (NYSE: MHK) is 13.28% higher on its value in year-to-date trading and has touched a low of $76.02 and a high of $123.54 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MHK stock was last observed hovering at around $110.01 in the last trading session, with the day’s gains setting it 7.23%.

Currently trading at $117.24, the stock is 13.15% and 15.91% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.49 million and changing 6.57% at the moment leaves the stock 21.56% off its SMA200. MHK registered -3.48% loss for a year compared to 6-month gain of 14.40%. The firm has a 50-day simple moving average (SMA 50) of $0.90 and a 200-day simple moving average (SMA200) of -$36.01.

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The stock witnessed a 12.23% loss in the last 1 month and extending the period to 3 months gives it a 47.43%, and is 10.24% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.44% over the week and 3.35% over the month.

Fwd P/E is 10.51. Profit margin for the company is -3.95%. Distance from 52-week low is 54.22% and -5.10% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.55%).

Mohawk Industries, Inc. quarterly earnings per share for the current quarter are estimated at $1.77 with sales reaching $2.65B over the same period.The EPS is expected to grow by 4.04% this year, but quarterly earnings will post -2.00% year-over-year. Quarterly sales are estimated to shrink -5.60% in year-over-year returns.

Mohawk Industries, Inc. (MHK) Top Institutional Holders

629 institutions hold shares in Mohawk Industries, Inc. (MHK), with institutional investors hold 99.61% of the company’s shares. The shares outstanding are 63.53M, and float is at 52.50M with Short Float at 2.89%. Institutions hold 82.44% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 6.21 million shares valued at $640.77 million. The investor’s holdings represent 9.75% of the MHK Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 4.17 million shares valued at $430.16 million to account for 6.55% of the shares outstanding. The other top investors are FMR, LLC which holds 3.18 million shares representing 4.99% and valued at over $328.08 million, while Boston Partners holds 4.58% of the shares totaling 2.92 million with a market value of $300.87 million.

Mohawk Industries, Inc. (MHK) Insider Activity

A total of 3 insider transactions have happened at Mohawk Industries, Inc. (MHK) in the last six months, with sales accounting for 3 and purchases happening 0 times. The most recent transaction is an insider sale by HELEN SUZANNE L,the company’sPossible Member of Group. SEC filings show that HELEN SUZANNE L sold 4,500 shares of the company’s common stock on Dec 14 at a price of $107.01 per share for a total of $0.48 million. Following the sale, the insider now owns 4453.0 shares.

Mohawk Industries, Inc. disclosed in a document filed with the SEC on Dec 13 that HELEN SUZANNE L (Possible Member of Group) sold a total of 5,500 shares of the company’s common stock. The trade occurred on Dec 13 and was made at $94.09 per share for $0.52 million. Following the transaction, the insider now directly holds 8953.0 shares of the MHK stock.

Still, SEC filings show that on Nov 17, Patton Rodney David (VP BUSINESS STRATEGY) disposed off 279 shares at an average price of $83.91 for $23411.0. The insider now directly holds 14,208 shares of Mohawk Industries, Inc. (MHK).

Mohawk Industries, Inc. (MHK): Who are the competitors?

The company’s main competitors (and peers) include Forbo Holding AG (FORN) that is trading -18.43% down over the past 12 months. Victoria PLC (VCP) that is -48.47% lower over the same period.