Mather Group LLC. Acquires 897 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Mather Group LLC. raised its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 40.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,095 shares of the company’s stock after buying an additional 897 shares during the quarter. Mather Group LLC.’s holdings in Mohawk Industries were worth $369,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MHK. Signaturefd LLC lifted its position in Mohawk Industries by 12.5% during the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after buying an additional 76 shares during the period. Allworth Financial LP lifted its holdings in shares of Mohawk Industries by 20.6% during the third quarter. Allworth Financial LP now owns 626 shares of the company’s stock valued at $101,000 after purchasing an additional 107 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Mohawk Industries by 7.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in shares of Mohawk Industries by 2.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after buying an additional 121 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Mohawk Industries by 1.9% during the 4th 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 in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 4,000 shares of Mohawk Industries stock in a transaction on Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the transaction, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 19,078 shares of company stock worth $2,474,347 over the last three months. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries Price Performance

NYSE MHK opened at $121.81 on Friday. The business’s fifty day moving average is $124.67 and its 200 day moving average is $140.52. Mohawk Industries, Inc. has a fifty-two week low of $101.83 and a fifty-two week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The company has a market capitalization of $7.69 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.05% and a net margin of 5.22%. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.64 earnings per share for the current year.

Analysts Set New Price Targets

MHK has been the topic of several analyst reports. Barclays dropped their target price on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Loop Capital cut their price objective on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday. Truist Financial cut their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, The Goldman Sachs Group reduced their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.62.

About Mohawk Industries

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.