Los Angeles Capital Management LLC Decreases Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Los Angeles Capital Management LLC cut its stake in Mohawk Industries, Inc. (NYSE:MHK) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,356 shares of the company’s stock after selling 10,853 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Mohawk Industries were worth $5,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MHK. Pacer Advisors Inc. lifted its position in Mohawk Industries by 1,152.0% during the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock worth $82,462,000 after acquiring an additional 733,097 shares in the last quarter. Paradice Investment Management LLC boosted its stake in shares of Mohawk Industries by 52.4% in the third quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock valued at $44,494,000 after purchasing an additional 178,310 shares during the period. Invesco Ltd. increased its stake in Mohawk Industries by 9.7% during the 3rd quarter. Invesco Ltd. now owns 1,759,210 shares of the company’s stock worth $150,958,000 after buying an additional 156,230 shares during the period. Gendell Jeffrey L boosted its position in Mohawk Industries by 62.2% in the 3rd quarter. Gendell Jeffrey L now owns 358,827 shares of the company’s stock valued at $30,791,000 after buying an additional 137,602 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Mohawk Industries by 72.1% during the fourth quarter. Truist Financial Corp now owns 294,894 shares of the company’s stock valued at $30,522,000 after acquiring an additional 123,508 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $116.37 on Monday. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The firm’s 50-day moving average is $119.03 and its 200-day moving average is $104.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MHK shares. JPMorgan Chase & Co. boosted their price target on Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. Wells Fargo & Company reduced their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, January 22nd. Finally, 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, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $121.33.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.