Handelsinvest Investeringsforvaltning Sells 1,424 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Handelsinvest Investeringsforvaltning trimmed its position in Mohawk Industries, Inc. (NYSE:MHK) by 34.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,743 shares of the company’s stock after selling 1,424 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Mohawk Industries were worth $359,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MHK. Quarry LP boosted its position in shares of Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares during the last quarter. Allworth Financial LP boosted its position in shares of Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after purchasing an additional 244 shares during the last quarter. Signaturefd LLC boosted its position in shares of Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares during the last quarter. TFO Wealth Partners LLC boosted its position in shares of Mohawk Industries by 32,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after purchasing an additional 650 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of Mohawk Industries in the 1st quarter worth $110,000. 78.98% of the stock is currently owned by institutional investors.

Insider Activity at Mohawk Industries

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Truist Financial lifted their price target on Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target on the stock in a research note on Monday, June 10th. JPMorgan Chase & Co. lifted their target price on Mohawk Industries from $122.00 to $124.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Loop Capital lowered their target price on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.20.

Mohawk Industries Trading Down 0.5 %

Shares of NYSE:MHK opened at $109.73 on Thursday. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $131.19. The business has a 50 day moving average of $115.60 and a 200-day moving average of $113.44. 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 (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $1.75 earnings per share. The business’s revenue was down 4.5% on a year-over-year basis. On average, equities analysts predict that Mohawk Industries, Inc. will post 9.68 earnings per share for the current year.

Mohawk Industries 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.