Mohawk Industries, Inc. (NYSE:MHK) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,667 shares of the company's stock after acquiring an additional 19,529 shares during the period. Rhumbline Advisers owned 0.18% of Mohawk Industries worth $13,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MHK. GAMMA Investing LLC increased its position in shares of Mohawk Industries by 12,165.8% during the 1st quarter. GAMMA Investing LLC now owns 310,570 shares of the company's stock worth $35,461,000 after purchasing an additional 308,038 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Mohawk Industries by 165.9% during the first quarter. Versant Capital Management Inc now owns 1,428 shares of the company's stock valued at $163,000 after acquiring an additional 891 shares during the last quarter. 111 Capital purchased a new stake in shares of Mohawk Industries in the 4th quarter valued at approximately $380,000. QSM Asset Management Ltd acquired a new position in shares of Mohawk Industries in the 4th quarter worth approximately $6,002,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Mohawk Industries in the 4th quarter worth approximately $1,564,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock traded up $2.68 during trading on Tuesday, hitting $105.78. 128,069 shares of the company were exchanged, compared to its average volume of 757,749. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $104.11 and a 200 day moving average price of $115.69. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.44 and a beta of 1.19.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.04% and a net margin of 4.78%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business earned $1.86 earnings per share. The business's revenue was down 5.7% on a year-over-year basis. On average, equities analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Buying and Selling

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 value of $1,191,120.00. Following the completion of the transaction, the insider now directly 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 document filed with the SEC, which can be accessed through the SEC website. 17.40% of the stock is owned by company insiders.

Analyst Ratings Changes

MHK has been the subject of a number of research reports. Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Raymond James reissued a "strong-buy" rating and set a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on Mohawk Industries in a research report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price objective for the company. Truist Financial reduced their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Finally, Robert W. Baird reduced their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

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.