Signaturefd LLC Boosts Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Signaturefd LLC raised its position in Mohawk Industries, Inc. (NYSE:MHK) by 29.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 563 shares of the company’s stock after acquiring an additional 128 shares during the quarter. Signaturefd LLC’s holdings in Mohawk Industries were worth $58,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MHK. Huntington National Bank lifted its stake in Mohawk Industries by 36.0% in the third quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after acquiring an additional 143 shares during the last quarter. Allworth Financial LP lifted its stake in Mohawk Industries by 88.1% in the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after acquiring an additional 244 shares during the last quarter. Byrne Asset Management LLC purchased a new position in Mohawk Industries in the fourth quarter worth approximately $101,000. Fifth Third Bancorp lifted its stake in Mohawk Industries by 17.3% in the third quarter. Fifth Third Bancorp now owns 1,901 shares of the company’s stock worth $163,000 after acquiring an additional 281 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Mohawk Industries in the third quarter worth approximately $171,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price target for the stock from $98.00 to $152.00 in a research note on Monday, February 12th. Wells Fargo & Company cut their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, January 22nd. Loop Capital cut their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday. Truist Financial raised their price objective on shares of Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group raised their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $121.00.

Mohawk Industries Trading Down 0.4 %

Shares of Mohawk Industries stock opened at $114.87 on Thursday. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. The company has a market capitalization of $7.34 billion, a P/E ratio of -17.56 and a beta of 1.34. The company’s fifty day moving average is $118.97 and its two-hundred day moving average is $103.95.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the firm posted $1.75 EPS. Mohawk Industries’s revenue for the quarter was down 4.5% on a year-over-year basis. Analysts forecast that Mohawk Industries, Inc. will post 9.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the sale, the vice president now owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.10% of the stock is currently owned by insiders.

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.