National Bank of Canada FI Acquires 115,352 Shares of Mohawk Industries, Inc. (NYSE:MHK)

National Bank of Canada FI lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 996.6% in the 4th quarter, Holdings Channel reports. The firm owned 126,927 shares of the company’s stock after acquiring an additional 115,352 shares during the period. National Bank of Canada FI’s holdings in Mohawk Industries were worth $13,363,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Mohawk Industries by 1,152.0% in the fourth 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 increased its position in shares of Mohawk Industries by 52.4% during the 3rd 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 last quarter. Invesco Ltd. raised its holdings in shares of Mohawk Industries by 9.7% during the 3rd quarter. Invesco Ltd. now owns 1,759,210 shares of the company’s stock valued at $150,958,000 after buying an additional 156,230 shares in the last quarter. Gendell Jeffrey L lifted 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 worth $30,791,000 after buying an additional 137,602 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in Mohawk Industries by 72.1% in the fourth quarter. Truist Financial Corp now owns 294,894 shares of the company’s stock worth $30,522,000 after buying an additional 123,508 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the company’s 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 in the company, valued at $1,831,012.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MHK has been the topic of several research reports. Wells Fargo & Company decreased their price target 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. Royal Bank of Canada lifted their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Truist Financial upped their price target on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $98.00 to $152.00 in a report on Monday, February 12th. Finally, Loop Capital dropped their target price on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.33.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $118.19 on Thursday. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $131.19. The firm has a market cap of $7.55 billion, a P/E ratio of -18.07, a P/E/G ratio of 1.17 and a beta of 1.35. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $119.22 and a 200-day moving average of $105.22.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The business’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 earnings per share. Sell-side analysts expect that Mohawk Industries, Inc. will post 9.54 EPS for the current year.

About Mohawk Industries

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.