3,663 Shares in Mohawk Industries, Inc. (NYSE:MHK) Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,663 shares of the company’s stock, valued at approximately $479,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its position in Mohawk Industries by 1,152.0% during the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock worth $82,462,000 after buying an additional 733,097 shares during the period. Norges Bank acquired a new position in shares of Mohawk Industries during the 4th quarter worth approximately $68,050,000. Dimensional Fund Advisors LP increased its holdings in shares of Mohawk Industries by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock worth $254,543,000 after purchasing an additional 317,278 shares during the period. ARGA Investment Management LP raised its position in shares of Mohawk Industries by 50.8% in the fourth quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after buying an additional 168,401 shares in the last quarter. Finally, Invesco Ltd. grew its position in Mohawk Industries by 9.7% during the third quarter. Invesco Ltd. now owns 1,759,210 shares of the company’s stock worth $150,958,000 after buying an additional 156,230 shares in the last quarter. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Price Performance

NYSE MHK opened at $113.00 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $131.19. The stock has a fifty day simple moving average of $115.67 and a 200 day simple moving average of $112.83.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The business’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, analysts predict that Mohawk Industries, Inc. will post 9.68 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the sale, the insider now owns 122,369 shares of the company’s stock, valued at $13,673,512.06. 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 corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MHK. Barclays cut their target price on Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Loop Capital decreased their target price on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 29th. JPMorgan Chase & Co. upped their price target on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Truist Financial boosted their price objective on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada raised their target price on Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.20.

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.