Crestline Management LP Invests $3.42 Million 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 the company in its most recent filing with the Securities and Exchange Commission. The firm bought 28,681 shares of the company's stock, valued at approximately $3,417,000.

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

Mohawk Industries Trading Up 0.1 %

Shares of Mohawk Industries stock opened at $101.53 on Wednesday. The company has a 50-day moving average of $109.52 and a two-hundred day moving average of $122.07. The stock has a market cap of $6.35 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. 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, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the firm posted $1.86 earnings per share. Mohawk Industries's revenue was down 5.7% on a year-over-year basis. On average, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on MHK shares. Truist Financial cut their price target on 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 reduced their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday. StockNews.com downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday. Seven research 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated 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 completion of the sale, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.40% of the stock is currently owned by 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.

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