Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 8.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,359 shares of the company’s stock after selling 12,106 shares during the period. Nuveen Asset Management LLC owned about 0.22% of Mohawk Industries worth $16,602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Mohawk Industries by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock worth $742,154,000 after acquiring an additional 20,327 shares during the period. JPMorgan Chase & Co. increased its stake in Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after purchasing an additional 191,077 shares in the last quarter. Invesco Ltd. increased its position in Mohawk Industries by 16.3% during the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock worth $205,545,000 after buying an additional 241,448 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock worth $162,793,000 after buying an additional 354,656 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Mohawk Industries by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company’s stock worth $154,488,000 after buying an additional 22,736 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 17.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MHK. Barclays decreased their price objective on Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating on the stock in a report on Monday, May 5th. Raymond James reissued a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Wells Fargo & Company cut their price target on Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Truist Financial lowered their price objective on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Royal Bank of Canada lowered their target price on Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a report on Monday, May 5th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.00.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $101.12 on Monday. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $107.16 and a 200 day simple moving average of $118.67. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.86 earnings per share. Research analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share 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.