Bank of America Corp DE Has $10.45 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

Bank of America Corp DE lessened its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 48.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,700 shares of the company's stock after selling 82,275 shares during the quarter. Bank of America Corp DE owned approximately 0.14% of Mohawk Industries worth $10,448,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MHK. JPMorgan Chase & Co. grew its position in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock valued at $485,983,000 after purchasing an additional 74,123 shares in the last quarter. Olstein Capital Management L.P. boosted its stake in shares of Mohawk Industries by 30.4% during the 4th quarter. Olstein Capital Management L.P. now owns 70,000 shares of the company's stock valued at $8,339,000 after buying an additional 16,300 shares during the period. KBC Group NV grew its holdings in shares of Mohawk Industries by 11.1% during the 4th quarter. KBC Group NV now owns 8,203 shares of the company's stock valued at $977,000 after acquiring an additional 819 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Mohawk Industries by 106.7% during the 4th quarter. Pacer Advisors Inc. now owns 8,259 shares of the company's stock valued at $984,000 after acquiring an additional 4,264 shares in the last quarter. Finally, Parkside Investments LLC raised its holdings in shares of Mohawk Industries by 40.0% during the fourth quarter. Parkside Investments LLC now owns 7,000 shares of the company's stock worth $834,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MHK. Wall Street Zen downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target for the company. Robert W. Baird cut their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Evercore ISI reduced their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. Finally, Truist Financial decreased their target price 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. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock traded up $0.65 during mid-day trading on Thursday, reaching $101.98. 684,580 shares of the stock were exchanged, compared to its average volume of 755,202. 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 market cap of $6.38 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The firm has a 50-day simple moving average of $106.20 and a 200 day simple moving average of $117.84. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company's revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries 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 sale, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This trade represents a 10.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.