Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its stake in Mohawk Industries, Inc. (NYSE:MHK) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,806 shares of the company’s stock after selling 2,781 shares during the period. Toronto Dominion Bank’s holdings in Mohawk Industries were worth $3,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MHK. SG Americas Securities LLC boosted its position in Mohawk Industries by 2.1% during the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock valued at $698,000 after purchasing an additional 136 shares during the period. Raymond James & Associates boosted its holdings in shares of Mohawk Industries by 2.8% during the fourth quarter. Raymond James & Associates now owns 16,570 shares of the company’s stock valued at $1,715,000 after acquiring an additional 451 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Mohawk Industries by 25.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 88,711 shares of the company’s stock worth $9,182,000 after acquiring an additional 17,961 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Mohawk Industries by 5.5% in the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock worth $208,000 after acquiring an additional 105 shares during the period. Finally, ForthRight Wealth Management LLC bought a new stake in Mohawk Industries in the 4th quarter valued at about $233,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 1,800 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the sale, the insider now directly owns 122,369 shares of the company’s stock, valued at $13,673,512.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Performance

NYSE:MHK opened at $160.71 on Friday. 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 company has a 50-day moving average of $118.04 and a 200-day moving average of $115.97. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $162.87. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of -24.57, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.11%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $2.76 earnings per share. Analysts forecast that Mohawk Industries, Inc. will post 9.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada lifted their target price on Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and increased their price target for the stock from $120.00 to $177.00 in a research note on Friday. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.45.

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.