Mohawk Industries, Inc. $MHK Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,821,951 shares of the company's stock after acquiring an additional 96,568 shares during the quarter. Invesco Ltd. owned approximately 2.91% of Mohawk Industries worth $208,030,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in Mohawk Industries by 326.3% in the first quarter. Federated Hermes Inc. now owns 243 shares of the company's stock worth $28,000 after acquiring an additional 186 shares during the last quarter. Allworth Financial LP lifted its stake in Mohawk Industries by 36.2% in the first quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after acquiring an additional 158 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $92,000. Kapitalo Investimentos Ltda acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $114,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $120,000. Hedge funds and other institutional investors own 78.98% of the company's stock.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,500 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $120.60, for a total transaction of $301,500.00. Following the sale, the insider directly owned 91,084 shares of the company's stock, valued at approximately $10,984,730.40. This represents a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $120.81, for a total value of $1,932,960.00. Following the sale, the chief executive officer directly owned 33,600 shares in the company, valued at approximately $4,059,216. This represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.40% of the company's stock.

Mohawk Industries Stock Up 0.1%

NYSE MHK traded up $0.11 on Monday, reaching $128.19. The company had a trading volume of 218,780 shares, compared to its average volume of 810,638. The firm has a market capitalization of $7.96 billion, a PE ratio of 17.05, a P/E/G ratio of 2.79 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18. The firm has a 50-day moving average of $111.92 and a 200-day moving average of $110.79. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.62 by $0.15. The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The business's revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $3.00 EPS. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MHK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Evercore ISI cut their target price on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a report on Monday, July 28th. Finally, Wells Fargo & Company lifted their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $140.14.

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.