Mackenzie Financial Corp Reduces Position in Mohawk Industries, Inc. (NYSE:MHK)

Mackenzie Financial Corp cut its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 58.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,739 shares of the company’s stock after selling 3,840 shares during the quarter. Mackenzie Financial Corp’s holdings in Mohawk Industries were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after buying an additional 244 shares during the period. Huntington National Bank increased its position in shares of Mohawk Industries by 36.0% in the third quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after purchasing an additional 143 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of Mohawk Industries in the fourth quarter worth approximately $101,000. Fifth Third Bancorp increased its position in shares of Mohawk Industries by 17.3% in the third quarter. Fifth Third Bancorp now owns 1,901 shares of the company’s stock worth $163,000 after purchasing an additional 281 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of Mohawk Industries in the third quarter worth approximately $171,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the firm’s 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 owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on MHK. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Royal Bank of Canada upped their price objective on shares of Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Truist Financial increased their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. The Goldman Sachs Group increased their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $118.75.

Mohawk Industries Stock Performance

NYSE:MHK opened at $115.45 on Monday. The firm has a market cap of $7.35 billion, a PE ratio of -17.65 and a beta of 1.34. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. The business has a 50 day moving average price of $118.86 and a 200-day moving average price of $103.36.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.71% and a negative net margin of 3.77%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the firm posted $1.75 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. Equities research analysts predict that Mohawk Industries, Inc. will post 9.56 earnings per share for the current 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.