Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by Tabor Asset Management LP

Tabor Asset Management LP lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 36.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 119,977 shares of the company's stock after acquiring an additional 32,124 shares during the period. Mohawk Industries accounts for approximately 6.8% of Tabor Asset Management LP's portfolio, making the stock its biggest position. Tabor Asset Management LP owned about 0.19% of Mohawk Industries worth $14,293,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MHK. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the 4th quarter valued at about $41,000. R Squared Ltd purchased a new stake in Mohawk Industries in the 4th quarter valued at about $66,000. Huntington National Bank raised its holdings in Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after buying an additional 119 shares during the period. Jones Financial Companies Lllp raised its holdings in Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $85,000 after buying an additional 501 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new stake in Mohawk Industries in the 4th quarter valued at about $88,000. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Down 1.2%

Shares of MHK stock traded down $1.20 during trading hours on Friday, reaching $101.12. 375,688 shares of the stock were exchanged, compared to its average volume of 752,387. The business's fifty day moving average is $107.16 and its two-hundred day moving average is $119.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The firm has a market capitalization of $6.32 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.44 and a beta of 1.24.

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

Analyst Ratings Changes

MHK has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company dropped their target price on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Truist Financial dropped their target price on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Evercore ISI dropped their target price on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research report on Monday, February 10th. Finally, Loop Capital dropped their target price on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Mohawk Industries presently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares of the company's stock, valued at $10,616,168.96. This represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.40% of the stock is currently owned by corporate 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.