Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in Mohawk Industries, Inc. (NYSE:MHK) by 22.5% during the second quarter, HoldingsChannel reports. The firm owned 2,131 shares of the company’s stock after purchasing an additional 391 shares during the period. Daiwa Securities Group Inc.’s holdings in Mohawk Industries were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MHK. Norges Bank purchased a new position in shares of Mohawk Industries in the fourth quarter worth about $68,050,000. Victory Capital Management Inc. boosted its holdings in shares of Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock worth $25,825,000 after purchasing an additional 212,820 shares during the last quarter. Heartland Advisors Inc. grew its position in shares of Mohawk Industries by 36.3% in the first quarter. Heartland Advisors Inc. now owns 401,538 shares of the company’s stock valued at $52,557,000 after purchasing an additional 107,030 shares in the last quarter. Masters Capital Management LLC acquired a new stake in shares of Mohawk Industries in the first quarter valued at approximately $13,089,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Mohawk Industries by 48.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company’s stock valued at $31,349,000 after purchasing an additional 98,920 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Down 0.6 %

Shares of NYSE MHK opened at $154.95 on Wednesday. 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 $144.86 and its two-hundred day moving average is $127.01. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $164.05. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of -23.69, a PEG ratio of 1.15 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data 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. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.76 EPS. Research analysts predict that Mohawk Industries, Inc. will post 10 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MHK. Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and upped their target price for the company from $120.00 to $177.00 in a report on Friday, July 26th. Truist Financial raised their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Loop Capital increased their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Robert W. Baird upped their price objective on Mohawk Industries from $132.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, July 29th. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Insider Activity

In related news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the sale, the insider now directly owns 121,669 shares in the company, valued at approximately $17,881,692.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is currently 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.