Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in Mohawk Industries, Inc. (NYSE:MHK) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,054 shares of the company’s stock after selling 22,528 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Mohawk Industries were worth $10,770,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gyon Technologies Capital Management LP acquired a new stake in Mohawk Industries during the 4th quarter valued at $30,000. Rockefeller Capital Management L.P. grew its holdings in Mohawk Industries by 143.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock valued at $31,000 after buying an additional 181 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in Mohawk Industries during the 2nd quarter valued at $41,000. Huntington National Bank grew its holdings in Mohawk Industries by 36.0% during the 3rd 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. Finally, Covestor Ltd grew its holdings in Mohawk Industries by 191.0% during the 1st 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. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MHK shares. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Royal Bank of Canada increased their target price on Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. Wells Fargo & Company lowered their target price on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, January 22nd. Truist Financial increased their price target on Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, The Goldman Sachs Group increased their price target on Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $117.56.

Mohawk Industries Trading Down 2.0 %

Shares of MHK opened at $109.50 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.98 billion, a P/E ratio of -15.82 and a beta of 1.34. The stock’s fifty day simple moving average is $119.34 and its 200 day simple moving average is $101.77. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $131.19.

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

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.