Sciencast Management LP Acquires 2,262 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Sciencast Management LP increased its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 59.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,088 shares of the company’s stock after buying an additional 2,262 shares during the quarter. Sciencast Management LP’s holdings in Mohawk Industries were worth $725,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after buying an additional 74,123 shares in the last quarter. FMR LLC boosted its position in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the last quarter. State Street Corp boosted its position in Mohawk Industries by 1.3% in the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after purchasing an additional 23,016 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Mohawk Industries by 33.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock worth $162,586,000 after purchasing an additional 254,779 shares during the last quarter. Finally, Truist Financial Corp boosted its position in Mohawk Industries by 7.4% in the fourth quarter. Truist Financial Corp now owns 374,456 shares of the company’s stock worth $44,609,000 after purchasing an additional 25,864 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MHK. JPMorgan Chase & Co. dropped their target price on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Barclays dropped their target price on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Loop Capital dropped their target price on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. StockNews.com downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday. Finally, The Goldman Sachs Group cut their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $146.92.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 2.2 %

MHK stock opened at $111.75 on Friday. Mohawk Industries, Inc. has a 1-year low of $104.88 and a 1-year high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.44 and a beta of 1.44. The business has a 50 day simple moving average of $120.12 and a two-hundred day simple moving average of $133.45.

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