Mirae Asset Global Investments Co. Ltd. Buys 1,567 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 34.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,084 shares of the company’s stock after purchasing an additional 1,567 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Mohawk Industries were worth $723,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after purchasing an additional 76 shares during the last quarter. Allworth Financial LP grew its stake in Mohawk Industries by 20.6% during the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after buying an additional 107 shares during the last quarter. Hantz Financial Services Inc. increased its position in Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after buying an additional 115 shares in the last quarter. Contravisory Investment Management Inc. increased its position in Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after buying an additional 121 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Mohawk Industries by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after buying an additional 130 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $116.77 on Thursday. Mohawk Industries, Inc. has a 52-week low of $104.88 and a 52-week high of $164.29. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.37 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41. The business has a 50-day simple moving average of $123.32 and a 200-day simple moving average of $140.07.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. On average, equities analysts expect that Mohawk Industries, Inc. will post 10.71 EPS for the current year.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the transaction, the insider now owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 19,078 shares of company stock worth $2,474,347 in the last three months. Company insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MHK. Truist Financial dropped their price target on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group cut their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada lowered their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Evercore ISI dropped their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday. Finally, Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $146.92.

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.