Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,684 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 47.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,439 shares of the company’s stock after acquiring an additional 3,684 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mohawk Industries were worth $1,184,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Huntington National Bank grew its position in Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after acquiring an additional 143 shares during the last quarter. Allworth Financial LP grew its position in Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after acquiring an additional 244 shares during the last quarter. Byrne Asset Management LLC bought a new position in Mohawk Industries in the 4th quarter valued at $101,000. Fifth Third Bancorp boosted its position in Mohawk Industries by 17.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,901 shares of the company’s stock valued at $163,000 after buying an additional 281 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Mohawk Industries in the 3rd quarter valued at $171,000. 78.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated 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 transaction, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MHK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $98.00 to $152.00 in a research report on Monday, February 12th. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Truist Financial raised their price target on Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Wells Fargo & Company reduced their price target on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, January 22nd. Finally, TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Mohawk Industries presently has an average rating of “Hold” and a consensus price target of $118.75.

Mohawk Industries Stock Performance

MHK opened at $115.45 on Friday. The business’s 50-day moving average price is $118.86 and its two-hundred day moving average price is $102.85. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of -16.68 and a beta of 1.34. 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 quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. Equities analysts expect that Mohawk Industries, Inc. will post 9.56 EPS for the current fiscal year.

Mohawk Industries Company 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.