Sanctuary Advisors LLC Invests $371,000 in Mohawk Industries, Inc. (NYSE:MHK)

Sanctuary Advisors LLC acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,216 shares of the company's stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quest Partners LLC raised its holdings in shares of Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company's stock worth $33,000 after acquiring an additional 84 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of Mohawk Industries by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company's stock worth $1,430,000 after acquiring an additional 98 shares during the period. State of Michigan Retirement System grew its position in Mohawk Industries by 0.7% in the second quarter. State of Michigan Retirement System now owns 14,545 shares of the company's stock valued at $1,652,000 after purchasing an additional 100 shares in the last quarter. Quent Capital LLC grew its position in Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company's stock valued at $65,000 after purchasing an additional 106 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Mohawk Industries by 7.0% in the second quarter. Fifth Third Bancorp now owns 2,343 shares of the company's stock valued at $266,000 after purchasing an additional 154 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the sale, the insider now owns 119,369 shares of the company's stock, valued at $18,042,624.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the sale, the insider now owns 119,369 shares of the company's stock, valued at $18,042,624.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 660 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the sale, the insider now directly owns 118,709 shares of the company's stock, valued at $17,979,665.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,415 shares of company stock valued at $673,387 in the last quarter. Company insiders own 17.10% of the company's stock.

Mohawk Industries Stock Performance

MHK traded up $1.85 on Friday, reaching $161.05. The company had a trading volume of 577,431 shares, compared to its average volume of 694,997. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $164.05. The stock has a market cap of $10.29 billion, a P/E ratio of -24.34, a P/E/G ratio of 1.23 and a beta of 1.37. The company's fifty day moving average is $153.85 and its 200 day moving average is $132.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.76 EPS. As a group, analysts predict that Mohawk Industries, Inc. will post 10 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on MHK. The Goldman Sachs Group raised their target price on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Robert W. Baird raised their target price on shares of Mohawk Industries from $132.00 to $160.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Wells Fargo & Company raised shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Finally, Truist Financial lifted their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Mohawk Industries currently has an average rating of "Moderate Buy" and a consensus price target of $163.25.

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.