Greenleaf Trust Invests $228,000 in Mohawk Industries, Inc. (NYSE:MHK)

Greenleaf Trust purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,422 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Mohawk Industries by 0.3% in 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 period. Dimensional Fund Advisors LP raised its position in Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after buying an additional 292,661 shares during the last quarter. Select Equity Group L.P. lifted 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 acquiring an additional 132,879 shares during the period. Pacer Advisors Inc. boosted 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 valued at $136,349,000 after acquiring an additional 360,628 shares in the last quarter. Finally, Brandes Investment Partners LP increased its stake in shares of Mohawk Industries by 10.5% during 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. 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 700 shares of Mohawk Industries stock in a transaction dated Wednesday, August 7th. The shares were 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 directly owns 121,669 shares in the company, valued at $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the 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 transaction, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Rodney David Patton sold 755 shares of the company’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 of the company’s stock, valued at $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock valued at $673,387 in the last ninety days. Insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

MHK has been the subject of a number of recent analyst reports. Truist Financial raised 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. Royal Bank of Canada lifted their price target on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Wells Fargo & Company upgraded Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. Loop Capital raised their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Stock Down 13.8 %

MHK stock opened at $130.88 on Friday. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The company’s 50 day simple moving average is $154.55 and its 200-day simple moving average is $133.72. The firm has a market capitalization of $8.26 billion, a PE ratio of -23.12, a P/E/G ratio of 1.11 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 24th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.01. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.71 billion. Equities analysts expect that Mohawk Industries, Inc. will post 9.98 earnings per share for the current fiscal year.

About Mohawk Industries

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.