Css LLC Il Raises Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

CSS LLC IL increased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 67.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,245 shares of the company's stock after purchasing an additional 2,910 shares during the period. CSS LLC IL's holdings in Mohawk Industries were worth $863,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Resona Asset Management Co. Ltd. purchased a new position in shares of Mohawk Industries in the fourth quarter worth $41,000. R Squared Ltd purchased a new position in shares of Mohawk Industries in the fourth quarter worth $66,000. Huntington National Bank raised 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 buying an additional 119 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Mohawk Industries by 233.0% in the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $85,000 after buying an additional 501 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Mohawk Industries in the fourth quarter worth $88,000. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Price Performance

Shares of NYSE MHK traded down $1.20 during trading on Friday, hitting $101.12. The company had a trading volume of 375,688 shares, compared to its average volume of 754,162. The stock has a fifty day simple moving average of $107.16 and a two-hundred day simple moving average of $118.85. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the business earned $1.86 earnings per share. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MHK shares. JPMorgan Chase & Co. reduced their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Truist Financial reduced their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a report on Monday, February 10th. Raymond James reissued a "strong-buy" rating and set a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They set a "hold" rating and a $121.00 target price for the company. Finally, Royal Bank of Canada reduced their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Mohawk Industries has an average rating of "Moderate Buy" and an average target price of $140.00.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This trade represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 17.40% of the company's stock.

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.