Ariel Investments LLC Cuts Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Ariel Investments LLC reduced its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,686,183 shares of the company's stock after selling 18,318 shares during the quarter. Mohawk Industries comprises 2.1% of Ariel Investments LLC's investment portfolio, making the stock its 18th biggest holding. Ariel Investments LLC owned 2.67% of Mohawk Industries worth $200,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MHK. Resona Asset Management Co. Ltd. purchased a new stake in shares of Mohawk Industries during the 4th quarter worth $41,000. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries during the third quarter worth about $55,000. Versant Capital Management Inc boosted its holdings in Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after buying an additional 223 shares in the last quarter. R Squared Ltd acquired a new position in Mohawk Industries during the fourth quarter worth about $66,000. Finally, Huntington National Bank lifted its position in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MHK. Deutsche Bank Aktiengesellschaft started coverage on Mohawk Industries in a report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target on the stock. Truist Financial dropped their price target on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Evercore ISI decreased their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research report on Monday, February 10th. Raymond James reissued a "strong-buy" rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Finally, Robert W. Baird cut their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.57.

Mohawk Industries Trading Down 1.7 %

Shares of Mohawk Industries stock opened at $104.63 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The business's fifty day moving average is $110.16 and its two-hundred day moving average is $123.15. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.54 billion, a PE ratio of 12.87, a P/E/G ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. Analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current 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.

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