Mohawk Industries, Inc. (NYSE:MHK) Position Reduced by Rhumbline Advisers

Rhumbline Advisers reduced its position in Mohawk Industries, Inc. (NYSE:MHK) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 97,823 shares of the company’s stock after selling 4,086 shares during the quarter. Rhumbline Advisers’ holdings in Mohawk Industries were worth $11,112,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Quarry LP boosted its stake in 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 period. Quent Capital LLC lifted its holdings in shares of Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares in the last quarter. AM Squared Ltd acquired a new stake in shares of Mohawk Industries in the second quarter worth $68,000. TFO Wealth Partners LLC grew its holdings 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 in the last quarter. Finally, Mather Group LLC. purchased a new stake in Mohawk Industries in the 1st quarter worth about $110,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 1,800 shares of the firm’s stock in a transaction 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 SEC, which is available at this hyperlink. In related news, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction dated Friday, June 14th. The shares were 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 owns 122,369 shares in the company, valued at $13,673,512.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. The disclosure for this sale can be found here. Insiders have sold a total of 6,215 shares of company stock valued at $874,519 in the last three months. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 1.0 %

Shares of MHK stock opened at $148.38 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $141.45 and its two-hundred day moving average is $125.97. The company has a market cap of $9.37 billion, a PE ratio of -22.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $164.05.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.25. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the business posted $2.76 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. Equities analysts predict that Mohawk Industries, Inc. will post 10 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and upped their price target for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. The Goldman Sachs Group boosted their target price on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Barclays lifted their price target on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

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.