Jefferies Financial Group Inc. Has $393,000 Position in Mohawk Industries, Inc. (NYSE:MHK)

Key Points

• Jefferies Financial Group Inc. reduced its stake in Mohawk Industries by 48.6%, lowering its holdings to 3,445 shares worth $393,000 at the end of the first quarter.
• Several institutional investors have increased their stakes in Mohawk Industries, with Franklin Resources Inc. raising its position by 31.4% during the fourth quarter.
• Analysts have mixed opinions on Mohawk Industries, with price targets ranging from $123.00 to $142.00, reflecting a general consensus rating of "Moderate Buy".

Jefferies Financial Group Inc. trimmed its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 48.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,445 shares of the company's stock after selling 3,258 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Mohawk Industries were worth $393,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Mohawk Industries by 13.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock valued at $787,000 after purchasing an additional 831 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Mohawk Industries by 78.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company's stock valued at $408,000 after purchasing an additional 1,566 shares during the last quarter. Truist Financial Corp grew its position in shares of Mohawk Industries by 7.9% in the first quarter. Truist Financial Corp now owns 403,936 shares of the company's stock valued at $46,121,000 after purchasing an additional 29,480 shares during the last quarter. QSM Asset Management Ltd grew its position in shares of Mohawk Industries by 25.0% in the first quarter. QSM Asset Management Ltd now owns 63,566 shares of the company's stock valued at $7,160,000 after purchasing an additional 12,700 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Mohawk Industries by 32.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,174 shares of the company's stock valued at $591,000 after purchasing an additional 1,268 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Price Performance

MHK traded up $4.09 during midday trading on Tuesday, reaching $124.03. 206,175 shares of the company's stock were exchanged, compared to its average volume of 806,483. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.28. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The business has a 50-day simple moving average of $109.68 and a two-hundred day simple moving average of $110.71.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.15. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The company's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. As a group, research analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MHK shares. Robert W. Baird raised their price target on Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Evercore ISI reduced their target price on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a research note on Monday, July 28th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $123.00 target price (up previously from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Finally, Wells Fargo & Company increased their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.14.

Insider Activity at Mohawk Industries

In other news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the firm'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 transaction of $1,932,960.00. Following the completion of the sale, the chief executive officer owned 33,600 shares of the company's stock, valued at approximately $4,059,216. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Suzanne L. Helen sold 2,500 shares of the firm'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. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. 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.