Franklin Resources Inc. Increases Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Franklin Resources Inc. increased its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 31.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,822 shares of the company's stock after acquiring an additional 11,660 shares during the quarter. Franklin Resources Inc. owned about 0.08% of Mohawk Industries worth $5,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries in the third quarter worth $55,000. Versant Capital Management Inc boosted its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company's stock valued at $64,000 after buying an additional 223 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Mohawk Industries during the 4th quarter valued at about $66,000. Jones Financial Companies Lllp boosted its holdings in Mohawk Industries by 233.0% in the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $85,000 after purchasing an additional 501 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Mohawk Industries in the fourth quarter worth $88,000. Institutional investors own 78.98% of the company's stock.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the business'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 transaction of $1,191,120.00. Following the sale, the insider now owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 17.10% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have commented on MHK. Robert W. Baird reduced their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. 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 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 decreased their price objective on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday. Seven equities 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $142.57.

Mohawk Industries Stock Up 1.1 %

NYSE MHK traded up $1.17 on Tuesday, reaching $105.40. 67,473 shares of the stock traded hands, compared to its average volume of 735,608. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a fifty day moving average price of $114.10 and a 200-day moving average price of $127.86. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 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%. As a group, research analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal 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.