Sterling Capital Management LLC Sells 51,015 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Sterling Capital Management LLC lessened its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 48.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,274 shares of the company's stock after selling 51,015 shares during the quarter. Sterling Capital Management LLC owned about 0.09% of Mohawk Industries worth $6,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank lifted its position in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after buying an additional 119 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company's stock worth $680,000 after acquiring an additional 121 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Mohawk Industries by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company's stock valued at $819,000 after purchasing an additional 130 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Mohawk Industries by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company's stock worth $2,748,000 after purchasing an additional 150 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Mohawk Industries by 11.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,518 shares of the company's stock worth $244,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 78.98% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have commented on MHK shares. The Goldman Sachs Group decreased their price target on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company dropped their price target on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price objective on the stock. 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Seven investment 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 company. According to MarketBeat, Mohawk Industries has an average rating of "Moderate Buy" and a consensus price target of $142.57.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares of the company's stock, valued at $10,616,168.96. This represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 17.10% of the company's stock.

Mohawk Industries Trading Down 1.1 %

MHK traded down $1.20 during trading on Tuesday, reaching $103.03. The company had a trading volume of 538,502 shares, compared to its average volume of 736,872. 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 stock has a market cap of $6.44 billion, a P/E ratio of 12.67, a PEG ratio of 1.44 and a beta of 1.23. The business has a 50 day simple moving average of $113.73 and a 200-day simple moving average of $127.69.

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 analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

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.