Allspring Global Investments Holdings LLC Grows Stake in Mohawk Industries, Inc. (NYSE:MHK)

Allspring Global Investments Holdings LLC lifted its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,111 shares of the company's stock after buying an additional 6,030 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.19% of Mohawk Industries worth $13,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MHK. Exchange Traded Concepts LLC raised its holdings in Mohawk Industries by 2,773.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,523 shares of the company's stock worth $245,000 after purchasing an additional 1,470 shares during the period. Creative Planning raised its holdings in Mohawk Industries by 6.9% in the 3rd quarter. Creative Planning now owns 3,114 shares of the company's stock worth $500,000 after purchasing an additional 200 shares during the period. Blue Trust Inc. raised its holdings in Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company's stock worth $58,000 after purchasing an additional 167 shares during the period. Signaturefd LLC raised its holdings in Mohawk Industries by 12.5% in the 3rd quarter. Signaturefd LLC now owns 683 shares of the company's stock worth $110,000 after purchasing an additional 76 shares during the period. Finally, Lecap Asset Management Ltd. bought a new position in Mohawk Industries in the 3rd quarter worth $1,728,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada decreased their target price on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating on the stock in a report on Monday, October 28th. Truist Financial decreased their target price on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Barclays decreased their target price on Mohawk Industries from $130.00 to $125.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Finally, The Goldman Sachs Group decreased their price target on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Six research 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.92.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the completion of the transaction, the insider now owns 2,453 shares in the company, valued at approximately $332,332.44. This trade represents a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by insiders.

Mohawk Industries Price Performance

Shares of MHK stock traded down $2.11 during trading hours on Friday, hitting $115.89. The stock had a trading volume of 752,334 shares, compared to its average volume of 802,577. Mohawk Industries, Inc. has a one year low of $104.88 and a one year 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 stock's 50-day moving average price is $121.69 and its two-hundred day moving average price is $138.35. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.44 and a beta of 1.41.

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 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%. Equities analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Mohawk Industries Company Profile

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.