Jaffetilchin Investment Partners LLC Buys Shares of 17,675 Mohawk Industries, Inc. (NYSE:MHK)

Jaffetilchin Investment Partners LLC purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,675 shares of the company's stock, valued at approximately $2,106,000.

Several other institutional investors and hedge funds have also bought and sold shares of MHK. Wilmington Savings Fund Society FSB bought a new stake in shares of Mohawk Industries during the 3rd quarter valued at about $55,000. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the fourth quarter worth $41,000. Versant Capital Management Inc raised its position in shares of Mohawk Industries by 71.0% in the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after acquiring an additional 223 shares in the last quarter. R Squared Ltd purchased a new position in Mohawk Industries during the 4th quarter valued at about $66,000. Finally, Huntington National Bank grew its stake in shares of Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after acquiring an additional 119 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MHK. Truist Financial cut their price objective on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a report on Monday, February 10th. Bank of America decreased their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Raymond James reaffirmed a "strong-buy" rating and issued a $165.00 price objective (down previously from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. StockNews.com cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their price objective on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $142.57.

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Mohawk Industries Stock Performance

Mohawk Industries stock traded down $0.69 during mid-day trading on Wednesday, reaching $102.35. The company had a trading volume of 158,053 shares, compared to its average volume of 734,652. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.44 and a beta of 1.23. The company has a 50 day moving average of $113.73 and a 200-day moving average of $127.69. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm's 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 transaction, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.40% of the stock is owned by corporate insiders.

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.