Marshall Wace LLP Sells 443,398 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Marshall Wace LLP reduced its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 65.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 232,309 shares of the company's stock after selling 443,398 shares during the quarter. Marshall Wace LLP owned 0.37% of Mohawk Industries worth $27,675,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Jump Financial LLC boosted its stake in shares of Mohawk Industries by 151.5% in the fourth quarter. Jump Financial LLC now owns 39,144 shares of the company's stock valued at $4,663,000 after buying an additional 23,578 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Mohawk Industries by 84.5% during the 4th quarter. Bridgewater Associates LP now owns 128,014 shares of the company's stock worth $15,250,000 after purchasing an additional 58,636 shares during the period. Canada Post Corp Registered Pension Plan purchased a new position in shares of Mohawk Industries in the 4th quarter valued at about $120,000. Mariner LLC lifted its stake in shares of Mohawk Industries by 24.4% in the fourth quarter. Mariner LLC now owns 15,606 shares of the company's stock valued at $1,859,000 after purchasing an additional 3,057 shares during the period. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in Mohawk Industries during the fourth quarter worth about $2,106,000. Hedge funds and other institutional investors own 78.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America lowered their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Wolfe Research raised Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Evercore ISI lowered their target price on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. Finally, Truist Financial dropped their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Mohawk Industries has a consensus rating of "Moderate Buy" and an average target price of $142.57.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded up $1.38 during trading on Wednesday, reaching $105.54. The stock had a trading volume of 597,366 shares, compared to its average volume of 783,504. The stock has a fifty day simple moving average of $112.06 and a two-hundred day simple moving average of $125.73. 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, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share 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%. As a group, analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 17.40% of the company's stock.

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.