Stratos Wealth Partners LTD. Buys New Stake in Mohawk Industries, Inc. (NYSE:MHK)

Stratos Wealth Partners LTD. bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,501 shares of the company’s stock, valued at approximately $536,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC bought a new position in Mohawk Industries during the third quarter worth $36,000. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries during the 3rd quarter worth about $55,000. Blue Trust Inc. raised its position in shares of Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Mohawk Industries in the third quarter valued at about $61,000. Finally, Versant Capital Management Inc grew its position in Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

MHK has been the subject of several recent research reports. Evercore ISI cut their price target on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a report on Monday. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Truist Financial decreased their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America dropped their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday. Finally, Royal Bank of Canada decreased their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and an average target price of $147.29.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by corporate insiders.

Mohawk Industries Trading Up 1.6 %

Shares of MHK opened at $119.32 on Wednesday. The stock has a fifty day moving average price of $123.61 and a two-hundred day moving average price of $140.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.60 and a beta of 1.41. Mohawk Industries, Inc. has a 52-week low of $104.88 and a 52-week high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. Analysts predict that Mohawk Industries, Inc. will post 10.71 EPS for the current fiscal 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.