Crestline Management LP Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Crestline Management LP bought a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 28,681 shares of the company's stock, valued at approximately $3,417,000.

A number of other hedge funds have also added to or reduced their stakes in MHK. Huntington National Bank increased its holdings in shares of Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after purchasing an additional 119 shares during the last quarter. Contravisory Investment Management Inc. grew its position in shares of Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company's stock valued at $680,000 after acquiring an additional 121 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Mohawk Industries by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company's stock worth $819,000 after purchasing an additional 130 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Mohawk Industries by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company's stock valued at $2,748,000 after purchasing an additional 150 shares during the last quarter. Finally, BOKF NA grew its stake in shares of Mohawk Industries by 1.2% in the fourth quarter. BOKF NA now owns 12,694 shares of the company's stock worth $1,499,000 after acquiring an additional 150 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Trading Up 3.0%

MHK stock traded up $3.20 during midday trading on Monday, hitting $109.51. 425,273 shares of the company's stock were exchanged, compared to its average volume of 798,989. The stock has a market capitalization of $6.85 billion, a PE ratio of 13.48, a P/E/G ratio of 1.44 and a beta of 1.24. The business has a 50-day simple moving average of $108.83 and a two-hundred day simple moving average of $120.79. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued 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. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business's quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company posted $1.86 EPS. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Truist Financial reduced 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 report on Monday, February 10th. Barclays dropped their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Raymond James reissued a "strong-buy" rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Finally, Robert W. Baird reduced 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 note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares in the company, 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 link. 17.40% of the stock is owned by corporate insiders.

Mohawk Industries 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.