Yousif Capital Management LLC Cuts Position in Mohawk Industries, Inc. (NYSE:MHK)

Yousif Capital Management LLC lowered its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,793 shares of the company’s stock after selling 591 shares during the quarter. Yousif Capital Management LLC’s holdings in Mohawk Industries were worth $1,117,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MHK. Huntington National Bank raised its stake in shares of 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 buying an additional 143 shares during the period. Allworth Financial LP increased its holdings in Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after acquiring an additional 244 shares in the last quarter. Signaturefd LLC raised its position in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after acquiring an additional 128 shares during the period. Byrne Asset Management LLC purchased a new position in Mohawk Industries during the fourth quarter valued at $101,000. Finally, Fifth Third Bancorp grew 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 valued at $163,000 after purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Shares of MHK stock opened at $116.37 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. The company has a market capitalization of $7.43 billion, a PE ratio of -17.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The firm’s 50-day moving average is $119.03 and its two-hundred day moving average is $104.27. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $131.19.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.86 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 analyst estimates of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 EPS. Analysts predict that Mohawk Industries, Inc. will post 9.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on MHK shares. Wells Fargo & Company reduced their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Truist Financial increased their price objective on Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, April 29th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. JPMorgan Chase & Co. upped their target price on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Loop Capital decreased their price target on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries currently has an average rating of “Hold” and an average target price of $121.33.

Insider Activity

In related news, VP Rodney David Patton sold 1,551 shares of the firm’s 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 sale, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

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.