Ariel Investments LLC Lowers Stake in Mohawk Industries, Inc. (NYSE:MHK)

Ariel Investments LLC lowered its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 2.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,816,676 shares of the company's stock after selling 54,084 shares during the period. Mohawk Industries makes up 2.2% of Ariel Investments LLC's holdings, making the stock its 11th biggest holding. Ariel Investments LLC owned approximately 2.84% of Mohawk Industries worth $206,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MHK. Quest Partners LLC grew its holdings in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company's stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Quarry LP grew its holdings in Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company's stock worth $44,000 after acquiring an additional 174 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Mohawk Industries during the 2nd quarter worth approximately $50,000. Quent Capital LLC lifted its position in shares of Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company's stock worth $65,000 after buying an additional 106 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its position in shares of Mohawk Industries by 32,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company's stock worth $67,000 after buying an additional 650 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Performance

MHK traded up $2.27 during trading on Thursday, hitting $156.61. The stock had a trading volume of 394,865 shares, compared to its average volume of 706,048. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The firm has a market capitalization of $10.00 billion, a P/E ratio of -23.90, a PEG ratio of 1.23 and a beta of 1.37. The company's 50-day moving average price is $149.56 and its 200 day moving average price is $128.73. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $164.05.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.25. The company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. Mohawk Industries's revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 EPS. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the transaction, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the transaction, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the transaction, the insider now owns 119,369 shares of the company's stock, valued at approximately $18,042,624.35. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock valued at $673,387 in the last ninety days. 17.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MHK shares. Barclays boosted their price objective on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Monday, July 29th. Truist Financial boosted their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price objective on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Monday, July 29th. Finally, Loop Capital boosted their price objective on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average target price of $156.00.

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.