Vanguard Group Inc. Increases Stake in Mohawk Industries, Inc. (NYSE:MHK)

Vanguard Group Inc. lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,240,136 shares of the company’s stock after buying an additional 39,143 shares during the quarter. Vanguard Group Inc. owned about 9.80% of Mohawk Industries worth $645,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP increased its position in shares of Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after buying an additional 174 shares during the period. Allworth Financial LP increased its position in shares of Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after buying an additional 244 shares during the period. Signaturefd LLC increased its position in shares of Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares during the period. TFO Wealth Partners LLC increased its position in shares of Mohawk Industries by 32,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after buying an additional 650 shares during the period. Finally, Byrne Asset Management LLC purchased a new stake in Mohawk Industries in the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays cut their price objective on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Truist Financial upped their price objective on shares of Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Loop Capital cut their price objective 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 objective 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. Finally, TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $123.20.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $111.74, for a total value of $201,132.00. Following the sale, the insider now owns 122,369 shares in the company, valued at $13,673,512.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Mohawk Industries Trading Up 1.5 %

Shares of MHK stock opened at $113.00 on Monday. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $131.19. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $115.67 and its 200 day moving average is $112.83. The stock has a market capitalization of $7.22 billion, a P/E ratio of -17.28, a P/E/G ratio of 1.10 and a beta of 1.40.

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

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.