Blueshift Asset Management LLC Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Blueshift Asset Management LLC purchased a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,860 shares of the company's stock, valued at approximately $341,000.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of 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 during the last quarter. FMR LLC boosted its holdings in shares of Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company's stock valued at $350,204,000 after purchasing an additional 748,070 shares during the last quarter. State Street Corp boosted its holdings in shares of Mohawk Industries by 1.3% during the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company's stock valued at $296,687,000 after purchasing an additional 23,016 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Mohawk Industries by 33.7% during 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 purchasing an additional 254,779 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Mohawk Industries by 7.4% in the fourth quarter. Truist Financial Corp now owns 374,456 shares of the company's stock worth $44,609,000 after purchasing an additional 25,864 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group reduced their price objective on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Evercore ISI decreased their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. Barclays dropped their price objective on shares of Mohawk Industries from $130.00 to $125.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Robert W. Baird decreased their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Finally, Wells Fargo & Company reduced their price objective on Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Six 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, Mohawk Industries currently has an average rating of "Moderate Buy" and an average target price of $146.92.

Mohawk Industries Trading Down 0.4 %

Mohawk Industries stock traded down $0.45 during mid-day trading on Tuesday, hitting $116.05. The company's stock had a trading volume of 726,551 shares, compared to its average volume of 701,662. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The company has a 50 day moving average of $119.81 and a 200-day moving average of $132.88. Mohawk Industries, Inc. has a one year low of $104.88 and a one year high of $164.29. The stock has a market cap of $7.26 billion, a PE ratio of 14.27, a P/E/G ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current 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.