abrdn plc reduced its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 30.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,678 shares of the company's stock after selling 2,883 shares during the quarter. abrdn plc's holdings in Mohawk Industries were worth $793,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock worth $485,983,000 after acquiring an additional 74,123 shares in the last quarter. FMR LLC increased its stake in shares of Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company's stock valued at $350,204,000 after buying an additional 748,070 shares in the last quarter. State Street Corp increased its stake in shares of Mohawk Industries by 1.3% in the third quarter. State Street Corp now owns 1,846,446 shares of the company's stock valued at $296,687,000 after buying an additional 23,016 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Mohawk Industries by 33.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company's stock valued at $162,586,000 after buying an additional 254,779 shares in the last quarter. Finally, Holocene Advisors LP increased its stake in shares of Mohawk Industries by 16.5% in the third quarter. Holocene Advisors LP now owns 168,327 shares of the company's stock valued at $27,047,000 after buying an additional 23,859 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, insider Suzanne L. Helen sold 4,000 shares of Mohawk Industries stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the transaction, the insider now owns 104,084 shares in the company, valued at $13,126,033.24. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 19,078 shares of company stock worth $2,474,347. Insiders own 17.10% of the company's stock.
Mohawk Industries Trading Up 1.1 %
MHK traded up $1.36 during midday trading on Friday, reaching $121.05. 779,165 shares of the company were exchanged, compared to its average volume of 831,656. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries, Inc. has a one year low of $104.88 and a one year high of $164.29. The stock has a market capitalization of $7.64 billion, a P/E ratio of 14.89, a PEG ratio of 1.60 and a beta of 1.41. The stock's 50-day simple moving average is $122.89 and its 200 day simple moving average is $139.64.
Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, analysts forecast that Mohawk Industries, Inc. will post 10.71 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on MHK. Bank of America lowered their target price on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research note on Monday. Loop Capital lowered their target price on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a research note on Monday. The Goldman Sachs Group lowered their target price on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. StockNews.com lowered Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Finally, Evercore ISI lowered their target price on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $146.92.
Check Out Our Latest Research Report on Mohawk Industries
About Mohawk Industries
(
Free Report)
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.
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