Suzanne Helen, affiliated with Mohawk Industries Inc. (NYSE:MHK), a flooring manufacturer with a market capitalization of $8.3 billion and strong year-to-date gains of approximately 27%, recently sold 2,000 shares of common stock. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment. The shares were sold at a weighted average price of $135.481, resulting in a total transaction value of approximately $270,962. The sale comes as the stock trades at a P/E ratio of 14.8 and maintains a FAIR financial health rating. Following this sale, Helen holds 2,453 shares indirectly through SLH Fund LP. Additionally, she maintains indirect ownership of 118,709 shares via PASTrust fbo Suzanne Helen and 141,646 shares through a family limited partnership. Discover more insights and 7 additional ProTips about MHK with an InvestingPro subscription.
In other recent news, Mohawk Industries has reported a mixed bag of third-quarter earnings for 2024. Despite challenging market conditions, the company saw a 7% increase in earnings per share to $2.90, while net sales experienced a slight 2% decline, totaling $2.7 billion. Loop Capital, a financial services firm, adjusted its price target on Mohawk Industries shares, reducing it to $180 from the previous $185, while retaining a Buy rating. This adjustment came in response to a blend of market feedback and management discussions.
Mohawk Industries also reported a free cash flow of $204 million for the quarter, contributing to a year-to-date total of $443 million. In response to improving conditions in European and Latin American markets, the company plans to invest $450 million in capital projects for growth and cost reduction. A new production line is also expected to start in 2024.
Loop Capital's projections for Mohawk's 2024 sales remain at a 4% year-over-year decline, with their adjusted EPS estimate being slightly above the consensus by two cents. The fourth-quarter adjusted EPS is projected to be between $1.77 and $1.87, accounting for the impact of recent hurricanes. These are some of the recent developments surrounding Mohawk Industries.
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