Cwm LLC Acquires 6,781 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Cwm LLC increased its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 1,024.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,443 shares of the company’s stock after purchasing an additional 6,781 shares during the period. Cwm LLC’s holdings in Mohawk Industries were worth $1,196,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Mohawk Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after purchasing an additional 17,541 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after buying an additional 292,661 shares during the period. Select Equity Group L.P. boosted its stake in shares of Mohawk Industries by 8.5% in the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after buying an additional 132,879 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after acquiring an additional 360,628 shares during the period. Finally, Brandes Investment Partners LP grew its holdings in shares of Mohawk Industries by 10.5% in the second quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock worth $115,057,000 after acquiring an additional 96,174 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

MHK has been the topic of several research reports. Royal Bank of Canada raised their target price on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Barclays increased their price target on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Truist Financial boosted their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and raised their target price for the stock from $120.00 to $177.00 in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $163.25.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Rodney David Patton sold 755 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares in the company, valued at approximately $2,002,031.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of the sale, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock worth $673,387 in the last 90 days. 17.10% of the stock is currently owned by corporate insiders.

Mohawk Industries Stock Performance

NYSE:MHK opened at $160.96 on Thursday. The stock has a 50-day moving average price of $153.23 and a 200 day moving average price of $132.15. The stock has a market capitalization of $10.28 billion, a P/E ratio of -24.61, a P/E/G ratio of 1.23 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. 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 (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the firm posted $2.76 EPS. The company’s revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that Mohawk Industries, Inc. will post 10 EPS for the current fiscal 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.