Lecap Asset Management Ltd. Buys New Position in Mohawk Industries, Inc. (NYSE:MHK)

Lecap Asset Management Ltd. bought a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,752 shares of the company's stock, valued at approximately $1,728,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MHK. Signaturefd LLC grew its holdings in Mohawk Industries by 12.5% in the 3rd quarter. Signaturefd LLC now owns 683 shares of the company's stock worth $110,000 after acquiring an additional 76 shares during the last quarter. Quest Partners LLC grew its holdings in Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company's stock worth $33,000 after acquiring an additional 84 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Mohawk Industries by 0.9% in the 1st 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 last quarter. State of Michigan Retirement System grew its holdings in Mohawk Industries by 0.7% in the 2nd quarter. State of Michigan Retirement System now owns 14,545 shares of the company's stock worth $1,652,000 after acquiring an additional 100 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company's stock worth $65,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Down 0.8 %

NYSE MHK traded down $1.23 during trading hours on Wednesday, reaching $151.70. 644,657 shares of the company's stock traded hands, compared to its average volume of 695,990. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The firm has a market cap of $9.69 billion, a PE ratio of -23.33, a PEG ratio of 1.23 and a beta of 1.37. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $164.29. The firm has a 50-day simple moving average of $154.60 and a 200 day simple moving average of $133.35.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.25. The business had revenue of $2.80 billion during 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%. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.76 earnings per share. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MHK shares. Robert W. Baird raised shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $160.00 to $196.00 in a report on Monday. Wells Fargo & Company raised shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. raised their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Truist Financial raised their target price 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. Finally, Jefferies Financial Group raised their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $166.25.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the transaction, the insider now directly owns 121,669 shares of the company's stock, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the transaction, the insider now directly owns 121,669 shares of the company's stock, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now owns 12,299 shares of the company's stock, valued at $2,002,031.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,415 shares of company stock valued at $673,387. Insiders own 17.10% 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.