Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. lowered its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,080 shares of the company’s stock after selling 78 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Mohawk Industries were worth $236,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MHK. Select Equity Group L.P. increased its position in shares of Mohawk Industries by 8.5% in the second quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after acquiring an additional 132,879 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Mohawk Industries by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 43,117 shares of the company’s stock worth $4,898,000 after acquiring an additional 343 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of Mohawk Industries in the second quarter worth approximately $1,253,000. Public Sector Pension Investment Board increased its position in shares of Mohawk Industries by 12.4% in the second quarter. Public Sector Pension Investment Board now owns 8,965 shares of the company’s stock worth $1,018,000 after acquiring an additional 990 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Mohawk Industries by 8.1% in the second quarter. ProShare Advisors LLC now owns 7,254 shares of the company’s stock worth $824,000 after acquiring an additional 543 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the topic of several analyst reports. Truist Financial lifted their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and raised their price target for the stock from $120.00 to $177.00 in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Loop Capital raised their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock opened at $158.81 on Friday. The firm has a fifty day simple moving average of $150.67 and a 200-day simple moving average of $129.19. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $164.05. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of -24.28, a PEG ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm posted $2.76 earnings per share. Mohawk Industries’s revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 10 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the transaction, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is owned by company insiders.

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.