Victory Capital Management Inc. Boosts Stake in Mohawk Industries, Inc. (NYSE:MHK)

Victory Capital Management Inc. lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 227,873 shares of the company’s stock after purchasing an additional 2,951 shares during the quarter. Victory Capital Management Inc.’s holdings in Mohawk Industries were worth $27,147,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MHK. Steward Partners Investment Advisory LLC boosted its stake in shares of Mohawk Industries by 136.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,294 shares of the company’s stock valued at $154,000 after buying an additional 746 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $85,000 after purchasing an additional 501 shares during the last quarter. Versor Investments LP lifted its position in shares of Mohawk Industries by 31.5% during the fourth quarter. Versor Investments LP now owns 2,236 shares of the company’s stock worth $266,000 after purchasing an additional 536 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Mohawk Industries in the fourth quarter worth about $3,732,000. Finally, Bank of New York Mellon Corp lifted its holdings in Mohawk Industries by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 316,805 shares of the company’s stock worth $37,741,000 after buying an additional 16,483 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Activity

In other news, insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $127.75, for a total value of $511,000.00. Following the completion of the sale, the insider now owns 108,084 shares in the company, valued at $13,807,731. This represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 17.10% of the stock is owned by insiders.

Mohawk Industries Stock Performance

MHK stock opened at $115.98 on Tuesday. The company has a market capitalization of $7.26 billion, a P/E ratio of 14.27, a PEG ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $120.96 and a 200 day simple moving average of $136.15. Mohawk Industries, Inc. has a fifty-two week low of $104.88 and a fifty-two week high of $164.29.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MHK. Truist Financial reduced their price objective on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Loop Capital cut 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. Robert W. Baird lowered their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. cut their price target on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Raymond James restated a “strong-buy” rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.92.

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.