Zurcher Kantonalbank Zurich Cantonalbank Has $1.63 Million Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Mohawk Industries, Inc. (NYSE:MHK) by 10.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,652 shares of the company’s stock after purchasing an additional 1,345 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mohawk Industries were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MHK. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Mohawk Industries in the third quarter worth $36,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Mohawk Industries in the third quarter worth $55,000. True Wealth Design LLC acquired a new stake in shares of Mohawk Industries in the third quarter worth $61,000. Versant Capital Management Inc lifted its stake in shares of Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after buying an additional 223 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Mohawk Industries in the fourth quarter worth $66,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays cut their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Robert W. Baird dropped their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Evercore ISI dropped their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Loop Capital dropped their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Truist Financial dropped their price objective on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Stock Up 0.5 %

Shares of NYSE MHK opened at $114.87 on Tuesday. The firm has a market capitalization of $7.19 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 1 year low of $104.88 and a 1 year high of $164.29. The firm’s 50-day moving average is $120.46 and its 200-day moving average is $134.44.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Equities analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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.