Nuveen Asset Management LLC Decreases Stake in Mohawk Industries, Inc. (NYSE:MHK)

Nuveen Asset Management LLC trimmed its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,359 shares of the company's stock after selling 12,106 shares during the period. Nuveen Asset Management LLC owned about 0.22% of Mohawk Industries worth $16,602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new stake in shares of Mohawk Industries during the 4th quarter valued at about $41,000. R Squared Ltd bought a new position in shares of Mohawk Industries during the 4th quarter worth approximately $66,000. Huntington National Bank grew its position in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after buying an additional 119 shares during the period. Jones Financial Companies Lllp increased its stake in shares of 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 acquiring an additional 501 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Mohawk Industries in the 4th quarter valued at $88,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Price Performance

Shares of MHK traded down $1.68 during mid-day trading on Friday, reaching $100.45. 125,244 shares of the stock traded hands, compared to its average volume of 776,020. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29. The firm has a fifty day moving average price of $106.20 and a 200 day moving average price 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 earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the business earned $1.86 earnings per share. The firm's revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 10,500 shares of the business'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 sale, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. The trade was a 10.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on MHK. Barclays decreased their target price on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Robert W. Baird decreased 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 note on Monday, February 10th. Royal Bank of Canada dropped their price objective on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research note on Monday, May 5th. Loop Capital lowered their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Finally, Truist Financial cut their price target on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a research note 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $140.00.

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.