Ariel Investments LLC Lowers Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Ariel Investments LLC lowered its position in Mohawk Industries, Inc. (NYSE:MHK) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,816,676 shares of the company’s stock after selling 54,084 shares during the period. Mohawk Industries comprises about 2.2% of Ariel Investments LLC’s portfolio, making the stock its 11th largest position. Ariel Investments LLC owned about 2.84% of Mohawk Industries worth $206,356,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new stake in Mohawk Industries in the 2nd quarter valued at about $85,997,000. Pacer Advisors Inc. increased its position in shares of Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after acquiring an additional 360,628 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Mohawk Industries by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after acquiring an additional 292,661 shares during the period. Victory Capital Management Inc. boosted its position in Mohawk Industries by 1,464.0% in the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock worth $25,825,000 after purchasing an additional 212,820 shares during the last quarter. Finally, Lodge Hill Capital LLC grew its stake in Mohawk Industries by 104.5% in the 2nd quarter. Lodge Hill Capital LLC now owns 225,000 shares of the company’s stock valued at $25,558,000 after purchasing an additional 115,000 shares during the period. 78.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MHK. Truist Financial boosted their price target on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Loop Capital raised their price objective on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective for the company in a report on Monday, June 10th. Barclays raised their price objective on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company raised their price objective on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.00.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $154.34 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $9.74 billion, a PE ratio of -23.60, a P/E/G ratio of 1.23 and a beta of 1.37. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $164.05. The company has a 50-day moving average price of $149.56 and a two-hundred day moving average price of $128.73.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the business earned $2.76 earnings per share. Mohawk Industries’s revenue was down 5.1% compared to the same quarter last year. Equities analysts forecast that Mohawk Industries, Inc. will post 10 EPS for the current year.

Insider Activity

In other news, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is owned by company insiders.

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.