Mohawk Industries, Inc. (NYSE:MHK) Stake Raised by Allworth Financial LP

Allworth Financial LP boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 88.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 521 shares of the company’s stock after acquiring an additional 244 shares during the quarter. Allworth Financial LP’s holdings in Mohawk Industries were worth $54,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Caxton Associates LP acquired a new stake in Mohawk Industries during the 3rd quarter worth about $1,170,000. Northern Trust Corp raised its holdings in Mohawk Industries by 4.0% during the 3rd quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock worth $51,275,000 after buying an additional 23,070 shares during the period. Dark Forest Capital Management LP acquired a new stake in Mohawk Industries during the 3rd quarter worth about $397,000. JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after buying an additional 103,813 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in Mohawk Industries by 35.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,209 shares of the company’s stock worth $1,820,000 after buying an additional 5,547 shares during the period. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on MHK. Truist Financial boosted their price objective on Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a “hold” rating to a “buy” rating and lifted their target price for the company from $98.00 to $152.00 in a research note on Monday, February 12th. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. The Goldman Sachs Group lifted their target price on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Barclays lifted their target price on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of “Hold” and an average price target of $117.56.

Mohawk Industries Trading Down 3.8 %

Shares of NYSE MHK opened at $113.17 on Friday. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -16.35 and a beta of 1.34. The business has a 50 day simple moving average of $119.18 and a 200 day simple moving average of $101.30. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.10. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. On average, research analysts predict that Mohawk Industries, Inc. will post 9.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.20% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.