Mohawk Industries, Inc. (NYSE:MHK) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,111 shares of the company’s stock after acquiring an additional 6,030 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.19% of Mohawk Industries worth $13,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC bought a new stake in Mohawk Industries during the third quarter worth approximately $36,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Mohawk Industries in the third quarter valued at $55,000. Blue Trust Inc. increased its stake in shares of Mohawk Industries by 85.6% in 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 in the last quarter. True Wealth Design LLC bought a new position in Mohawk Industries in the third quarter valued at about $61,000. Finally, Versant Capital Management Inc boosted its holdings 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 during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MHK shares. Wells Fargo & Company dropped their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Truist Financial dropped their price objective on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Evercore ISI lowered their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. Loop Capital reduced their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the transaction, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 19,078 shares of company stock valued at $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Performance

NYSE MHK opened at $121.05 on Tuesday. The stock has a fifty day simple moving average of $122.66 and a 200-day simple moving average of $139.08. Mohawk Industries, Inc. has a twelve month low of $104.88 and a twelve month high of $164.29. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.64 billion, a PE ratio of 14.89, a P/E/G ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating 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%. Equities analysts anticipate that Mohawk Industries, Inc. will post 10.71 earnings per share for the current year.

Mohawk Industries Company Profile

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.