Mutual of America Capital Management LLC Decreases Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Mutual of America Capital Management LLC cut its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,085 shares of the company’s stock after selling 325 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Mohawk Industries were worth $733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in shares of Mohawk Industries by 5.5% in the fourth quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock valued at $208,000 after purchasing an additional 105 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of Mohawk Industries by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company’s stock valued at $1,993,000 after purchasing an additional 120 shares during the period. SG Americas Securities LLC increased its holdings in shares of Mohawk Industries by 2.1% in the fourth quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock valued at $698,000 after purchasing an additional 136 shares during the period. Huntington National Bank increased 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 purchasing an additional 143 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Mohawk Industries by 4.1% in the third quarter. Daiwa Securities Group Inc. now owns 4,312 shares of the company’s stock valued at $370,000 after purchasing an additional 168 shares during the period. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries 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 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 accessible through this link. 17.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on MHK. Wells Fargo & Company dropped 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 raised their target price on Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Finally, Royal Bank of Canada raised their price objective on Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $118.75.

Mohawk Industries Stock Performance

NYSE MHK opened at $109.95 on Tuesday. The company has a market cap of $7.00 billion, a PE ratio of -15.89 and a beta of 1.34. The stock’s 50 day simple moving average is $119.13 and its 200-day simple moving average is $102.52. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $131.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97.

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

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.