Charles Schwab Investment Management Inc. reduced its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 534,258 shares of the company's stock after selling 3,896 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.85% of Mohawk Industries worth $63,646,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Choreo LLC purchased a new position in Mohawk Industries during the 4th quarter valued at $258,000. Meeder Asset Management Inc. grew its position in shares of Mohawk Industries by 8.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company's stock worth $13,583,000 after buying an additional 6,863 shares during the period. Townsend & Associates Inc grew its position in shares of Mohawk Industries by 1.2% in the 4th quarter. Townsend & Associates Inc now owns 263,143 shares of the company's stock worth $34,382,000 after buying an additional 3,078 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Mohawk Industries in the 4th quarter worth about $997,000. Finally, JPMorgan Chase & Co. grew its position in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock worth $485,983,000 after buying an additional 74,123 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on MHK shares. Barclays reduced their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Monday, February 10th. Loop Capital cut their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Raymond James reissued a "strong-buy" rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Truist Financial cut their price objective on shares of Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.92.
Check Out Our Latest Stock Report on MHK
Insider Transactions at Mohawk Industries
In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the sale, the insider now directly 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 17.10% of the company's stock.
Mohawk Industries Stock Performance
Shares of NYSE:MHK traded up $3.47 during trading on Friday, hitting $114.39. The company's stock had a trading volume of 713,172 shares, compared to its average volume of 693,831. The company has a 50-day moving average of $120.51 and a 200-day moving average of $134.85. Mohawk Industries, Inc. has a 12 month low of $104.88 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.44 and a beta of 1.44.
Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.
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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