Asset Management One Co. Ltd. Decreases Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Asset Management One Co. Ltd. trimmed its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 97.7% in the 4th quarter, Holdings Channel reports. The firm owned 502 shares of the company’s stock after selling 21,263 shares during the period. Asset Management One Co. Ltd.’s holdings in Mohawk Industries were worth $53,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Gyon Technologies Capital Management LP purchased a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $30,000. Rockefeller Capital Management L.P. raised its holdings in shares of Mohawk Industries by 143.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock valued at $31,000 after purchasing an additional 181 shares during the last quarter. Covestor Ltd increased its holdings in Mohawk Industries by 191.0% during the first quarter. Covestor Ltd now owns 390 shares of the company’s stock valued at $49,000 after buying an additional 256 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in Mohawk Industries during the second quarter valued at approximately $41,000. Finally, Huntington National Bank increased its holdings in Mohawk Industries by 36.0% during the third quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after buying an additional 143 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $113.17 on Monday. The firm has a fifty day moving average price of $119.18 and a 200-day moving average price of $101.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97. The stock has a market cap of $7.21 billion, a PE ratio of -16.35 and a beta of 1.34. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data 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. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the transaction, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on MHK. The Goldman Sachs Group upped their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 11th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Truist Financial upped their target price on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Finally, Royal Bank of Canada upped their target price on shares of Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a report 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 company. According to data from MarketBeat, Mohawk Industries presently has an average rating of “Hold” and an average target price of $117.56.

Mohawk Industries Profile

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.