Cardinal Capital Management Raises Position in Mohawk Industries, Inc. (NYSE:MHK)

Cardinal Capital Management boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,673 shares of the company’s stock after purchasing an additional 863 shares during the period. Cardinal Capital Management’s holdings in Mohawk Industries were worth $1,510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in shares of Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after buying an additional 748,070 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Mohawk Industries by 33.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock valued at $162,586,000 after acquiring an additional 254,779 shares during the period. Assenagon Asset Management S.A. raised its stake in Mohawk Industries by 482.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 137,122 shares of the company’s stock valued at $22,033,000 after acquiring an additional 113,588 shares during the period. JPMorgan Chase & Co. lifted its holdings in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after purchasing an additional 74,123 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Mohawk Industries by 111.1% during the third quarter. BNP Paribas Financial Markets now owns 129,186 shares of the company’s stock worth $20,758,000 after purchasing an additional 67,990 shares during the period. 78.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial dropped their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research note 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. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Wednesday, January 8th. Evercore ISI decreased their price objective on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday, February 10th. Finally, Bank of America dropped their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the transaction, the insider now directly owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 in the last 90 days. 17.10% of the stock is owned by company insiders.

Mohawk Industries Trading Up 1.1 %

Shares of MHK stock opened at $121.05 on Tuesday. The business has a 50-day moving average price of $122.66 and a two-hundred day moving average price of $139.08. Mohawk Industries, Inc. has a 12-month low of $104.88 and a 12-month high of $164.29. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.64 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

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, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. Equities analysts anticipate that Mohawk Industries, Inc. will post 10.71 EPS for the current fiscal year.

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.