Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 12,165.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,570 shares of the company's stock after purchasing an additional 308,038 shares during the period. GAMMA Investing LLC owned about 0.50% of Mohawk Industries worth $35,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Mohawk Industries by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock valued at $742,154,000 after acquiring an additional 20,327 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Mohawk Industries by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock worth $383,076,000 after purchasing an additional 191,077 shares during the period. Invesco Ltd. raised its position in shares of Mohawk Industries by 16.3% during the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock worth $205,545,000 after purchasing an additional 241,448 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock worth $162,793,000 after buying an additional 354,656 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Mohawk Industries by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock worth $154,488,000 after buying an additional 22,736 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MHK has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research note on Monday, May 5th. Bank of America lowered their price target on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Truist Financial lowered their price target on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Raymond James reissued a "strong-buy" rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Finally, 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 report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $140.00.

Mohawk Industries Stock Up 0.8%

Shares of NYSE MHK traded up $0.79 during mid-day trading on Friday, hitting $101.58. 607,041 shares of the stock traded hands, compared to its average volume of 759,521. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.44 and a beta of 1.19. The stock has a fifty day moving average price of $104.40 and a 200-day moving average price of $116.09.

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

Insider Transactions 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 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 represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.40% of the company's stock.

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.