Mohawk Industries, Inc. (NYSE:MHK) Holdings Boosted by Truist Financial Corp

Truist Financial Corp grew its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 7.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 374,456 shares of the company's stock after buying an additional 25,864 shares during the period. Truist Financial Corp owned 0.59% of Mohawk Industries worth $44,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MHK. FMR LLC raised its position in Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company's stock worth $350,204,000 after buying an additional 748,070 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 worth $162,586,000 after acquiring an additional 254,779 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Mohawk Industries by 482.7% during the third quarter. Assenagon Asset Management S.A. now owns 137,122 shares of the company's stock worth $22,033,000 after acquiring an additional 113,588 shares during the period. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 74,123 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Mohawk Industries by 111.1% in the third quarter. BNP Paribas Financial Markets now owns 129,186 shares of the company's stock valued at $20,758,000 after purchasing an additional 67,990 shares during the period. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Price Performance

Mohawk Industries stock traded down $2.11 during mid-day trading on Friday, hitting $115.89. 752,334 shares of the company were exchanged, compared to its average volume of 802,577. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries, Inc. has a 12-month low of $104.88 and a 12-month high of $164.29. The business's 50 day simple moving average is $121.93 and its two-hundred day simple moving average is $138.56. The company has a market capitalization of $7.31 billion, a P/E ratio of 14.25, a PEG ratio of 1.44 and a beta of 1.41.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MHK shares. Raymond James reissued a "strong-buy" rating and issued a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Barclays reduced their target price on Mohawk Industries from $130.00 to $125.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. The Goldman Sachs Group lowered their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada reduced their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating for the company in a research note on Monday, October 28th. Finally, Bank of America lowered 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. Six 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.92.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares of the company's stock, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries 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.