Chicago Partners Investment Group LLC Increases Stake in Mohawk Industries, Inc. $MHK

Chicago Partners Investment Group LLC raised its stake in Mohawk Industries, Inc. (NYSE:MHK) by 230.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,180 shares of the company’s stock after acquiring an additional 4,307 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Mohawk Industries were worth $734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of Mohawk Industries by 14.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 344,797 shares of the company’s stock valued at $39,369,000 after purchasing an additional 42,655 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Mohawk Industries by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 193,977 shares of the company’s stock worth $22,148,000 after acquiring an additional 1,175 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Mohawk Industries during the 1st quarter valued at about $149,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Mohawk Industries by 190.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,031 shares of the company’s stock valued at $1,666,000 after acquiring an additional 9,857 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Mohawk Industries by 85.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,437 shares of the company’s stock valued at $255,000 after purchasing an additional 1,124 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,700 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $109.00, for a total value of $294,300.00. Following the completion of the sale, the insider owned 67,893 shares of the company’s stock, valued at approximately $7,400,337. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 17,600 shares of company stock valued at $1,945,754 in the last ninety days. 17.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MHK has been the topic of several research analyst reports. Barclays set a $121.00 price objective on Mohawk Industries in a report on Monday, December 8th. Raymond James Financial reissued a “strong-buy” rating and issued a $150.00 price target (up previously from $140.00) on shares of Mohawk Industries in a research note on Tuesday, October 21st. Jefferies Financial Group cut their price target on shares of Mohawk Industries from $134.00 to $128.00 and set a “hold” rating for the company in a report on Monday, December 15th. Wall Street Zen downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Wells Fargo & Company dropped their target price on shares of Mohawk Industries from $125.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.83.

Mohawk Industries Trading Down 3.6%

Shares of MHK opened at $120.75 on Friday. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $143.13. The stock has a market cap of $7.46 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.23 and a beta of 1.22. The firm’s fifty day moving average is $112.80 and its two-hundred day moving average is $119.41. The company has a quick ratio of 1.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.21.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.01). Mohawk Industries had a return on equity of 6.97% and a net margin of 3.93%.The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the business posted $2.90 earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.