Sumitomo Mitsui Trust Group Inc. Sells 9,244 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 81.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,042 shares of the company’s stock after selling 9,244 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Mohawk Industries were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State of Alaska Department of Revenue lifted its position in shares of Mohawk Industries by 35.2% during the fourth quarter. State of Alaska Department of Revenue now owns 22,473 shares of the company’s stock worth $2,676,000 after purchasing an additional 5,855 shares during the last quarter. Choreo LLC bought a new stake in shares of Mohawk Industries during the fourth quarter worth $258,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mohawk Industries by 34.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,084 shares of the company’s stock worth $723,000 after purchasing an additional 1,567 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Mohawk Industries in the fourth quarter valued at about $536,000. Finally, Mather Group LLC. raised its holdings in shares of Mohawk Industries by 40.8% in the fourth quarter. Mather Group LLC. now owns 3,095 shares of the company’s stock valued at $369,000 after acquiring an additional 897 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MHK has been the subject of several recent research reports. Raymond James restated a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Royal Bank of Canada decreased their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Robert W. Baird decreased their price objective on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Truist Financial decreased 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, Loop Capital decreased their price objective on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Mohawk Industries currently has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 19,078 shares of company stock worth $2,474,347. Insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

Shares of MHK stock opened at $121.05 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.60 and a beta of 1.41. 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 stock’s 50-day simple moving average is $122.89 and its 200-day simple moving average is $139.48.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, equities analysts forecast that Mohawk Industries, Inc. will post 10.71 earnings per share 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.