Investors Purchase High Volume of Put Options on Mohawk Industries (NYSE:MHK)

Mohawk Industries, Inc. (NYSE:MHK) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 1,796 put options on the stock. This represents an increase of approximately 1,174% compared to the average daily volume of 141 put options.

Shares of NYSE MHK traded up $3.26 during midday trading on Friday, reaching $139.09. The stock had a trading volume of 413,709 shares, compared to its average volume of 909,474. The company has a market capitalization of $10.07 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 2.78 and a beta of 1.53. Mohawk Industries has a twelve month low of $109.35 and a twelve month high of $228.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.37.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.06. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company earned $3.01 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts forecast that Mohawk Industries will post 10.92 earnings per share for the current year.

MHK has been the subject of several analyst reports. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Royal Bank of Canada lowered shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from $129.00 to $115.00 in a report on Friday, January 11th. Credit Suisse Group set a $125.00 price target on shares of Mohawk Industries and gave the company a “hold” rating in a report on Friday, January 11th. Wells Fargo & Co lifted their price target on shares of Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Monday, February 11th. Finally, Loop Capital lifted their price target on shares of Mohawk Industries to $126.00 and gave the company an “underperform” rating in a report on Friday, February 8th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $152.53.

In other news, VP Rodney David Patton sold 2,260 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $133.50, for a total value of $301,710.00. Following the completion of the transaction, the vice president now directly owns 9,134 shares in the company, valued at approximately $1,219,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Suzanne L. Helen sold 14,247 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $140.43, for a total transaction of $2,000,706.21. The disclosure for this sale can be found here. 18.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Nissay Asset Management Corp Japan ADV lifted its position in shares of Mohawk Industries by 3.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 5,689 shares of the company’s stock valued at $718,000 after acquiring an additional 191 shares during the period. Pzena Investment Management LLC acquired a new position in shares of Mohawk Industries during the 1st quarter valued at $172,158,000. Markel Corp lifted its position in shares of Mohawk Industries by 131.7% during the 1st quarter. Markel Corp now owns 95,000 shares of the company’s stock valued at $11,984,000 after acquiring an additional 54,000 shares during the period. Stephens Inc. AR lifted its position in shares of Mohawk Industries by 14.2% during the 1st quarter. Stephens Inc. AR now owns 18,403 shares of the company’s stock valued at $2,322,000 after acquiring an additional 2,287 shares during the period. Finally, Boston Common Asset Management LLC lifted its position in shares of Mohawk Industries by 36.7% during the 1st quarter. Boston Common Asset Management LLC now owns 49,117 shares of the company’s stock valued at $6,196,000 after acquiring an additional 13,199 shares during the period. Institutional investors own 79.54% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Investors Purchase High Volume of Put Options on Mohawk Industries (NYSE:MHK)” was first published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.baseballdailydigest.com/news/2019/05/04/mohawk-industries-sees-unusually-high-options-volume-mhk.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).

Further Reading: Green Investing

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.