Dimensional Fund Advisors LP Boosts Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Dimensional Fund Advisors LP boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,036,545 shares of the company’s stock after purchasing an additional 292,661 shares during the period. Dimensional Fund Advisors LP owned about 4.75% of Mohawk Industries worth $344,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MHK. Teacher Retirement System of Texas boosted its position in Mohawk Industries by 74.1% in the fourth quarter. Teacher Retirement System of Texas now owns 7,284 shares of the company’s stock worth $754,000 after purchasing an additional 3,099 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Mohawk Industries by 5.5% in the fourth quarter. BNP Paribas Financial Markets now owns 50,585 shares of the company’s stock valued at $5,236,000 after buying an additional 2,648 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Mohawk Industries in the fourth quarter valued at $333,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Mohawk Industries by 9.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,117 shares of the company’s stock valued at $426,000 after buying an additional 364 shares during the period. Finally, ING Groep NV raised its stake in shares of Mohawk Industries by 9.0% in the fourth quarter. ING Groep NV now owns 7,236 shares of the company’s stock valued at $749,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Loop Capital boosted their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group boosted their target price on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Raymond James upgraded Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price on the stock in a research note on Monday, June 10th. JPMorgan Chase & Co. boosted their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Truist Financial boosted their price objective on Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.00.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now directly owns 121,669 shares in the company, valued at approximately $17,881,692.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares in the company, valued at approximately $2,002,031.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the transaction, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock worth $673,387 in the last ninety days. 17.10% of the stock is currently owned by insiders.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $155.83 on Tuesday. The firm has a market capitalization of $9.95 billion, a P/E ratio of -23.83, a P/E/G ratio of 1.15 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $143.98 and its two-hundred day simple moving average is $126.75. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $164.05.

Mohawk Industries (NYSE:MHK) last announced 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.76 EPS. As a group, equities analysts anticipate that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

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.