Raymond James & Associates Increases Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Raymond James & Associates raised its stake in Mohawk Industries, Inc. (NYSE:MHK) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,570 shares of the company’s stock after acquiring an additional 451 shares during the period. Raymond James & Associates’ holdings in Mohawk Industries were worth $1,715,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MHK. Barclays increased their price objective on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Truist Financial increased their price objective on Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Wells Fargo & Company decreased their price objective on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. The Goldman Sachs Group increased their price objective on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $117.56.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $108.27 on Thursday. The company has a market cap of $6.90 billion, a P/E ratio of -15.65 and a beta of 1.34. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $131.19. The business has a fifty day moving average of $119.33 and a two-hundred day moving average of $101.82. 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 issued its earnings results on Friday, February 9th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.86 by $0.10. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. As a group, 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 business’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 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.10% 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.