Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in shares of Mohawk Industries, Inc. (NYSE:MHKGet Rating) by 3.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,438 shares of the company’s stock after purchasing an additional 100 shares during the period. Daiwa Securities Group Inc.’s holdings in Mohawk Industries were worth $427,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Mohawk Industries during the 4th quarter valued at about $21,316,000. State of Michigan Retirement System boosted its position in shares of Mohawk Industries by 25.5% during the 4th quarter. State of Michigan Retirement System now owns 20,340 shares of the company’s stock valued at $3,706,000 after purchasing an additional 4,136 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Mohawk Industries by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,647,139 shares of the company’s stock valued at $300,060,000 after purchasing an additional 49,810 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of Mohawk Industries by 4.0% during the 4th quarter. Calamos Advisors LLC now owns 53,188 shares of the company’s stock valued at $9,690,000 after purchasing an additional 2,059 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Mohawk Industries by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 284,399 shares of the company’s stock valued at $51,812,000 after purchasing an additional 1,015 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $125.00 to $150.00 in a research report on Monday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Mohawk Industries from $156.00 to $129.00 in a report on Friday, July 15th. Raymond James raised their target price on shares of Mohawk Industries from $190.00 to $210.00 in a report on Monday, May 2nd. Barclays cut shares of Mohawk Industries from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $152.00 to $129.00 in a report on Thursday, July 14th. Finally, Truist Financial decreased their target price on shares of Mohawk Industries from $200.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, March 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries has a consensus rating of “Hold” and a consensus price target of $164.62.

Mohawk Industries Price Performance

Shares of MHK opened at $134.82 on Monday. The firm has a market cap of $8.57 billion, a PE ratio of 8.79, a PEG ratio of 3.59 and a beta of 1.29. The firm’s 50 day moving average price is $130.86 and its 200 day moving average price is $138.58. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.44. Mohawk Industries, Inc. has a twelve month low of $114.96 and a twelve month high of $211.74.

Mohawk Industries (NYSE:MHKGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $3.78 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.89. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.85 billion. Mohawk Industries had a net margin of 9.02% and a return on equity of 12.00%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.49 earnings per share. As a group, research analysts expect that Mohawk Industries, Inc. will post 15.41 EPS for the current fiscal year.

About Mohawk Industries

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Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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