Mohawk Industries, Inc. (NYSE:MHK) Stock Holdings Lessened by ING Groep NV

ING Groep NV decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 55.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,990 shares of the company's stock after selling 20,201 shares during the quarter. ING Groep NV's holdings in Mohawk Industries were worth $1,826,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Federated Hermes Inc. increased its holdings in shares of Mohawk Industries by 326.3% during the first quarter. Federated Hermes Inc. now owns 243 shares of the company's stock valued at $28,000 after purchasing an additional 186 shares during the period. Resona Asset Management Co. Ltd. bought a new position in Mohawk Industries in the 4th quarter valued at about $41,000. Allworth Financial LP increased its stake in Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after buying an additional 158 shares during the period. Mufg Securities Americas Inc. bought a new stake in shares of Mohawk Industries during the 4th quarter worth about $92,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $114,000. Institutional investors own 78.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays upped their target price on Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Evercore ISI dropped their target price on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a report on Monday, July 28th. Robert W. Baird raised their target price on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $123.00 price target (up previously from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.14.

Insider Activity at Mohawk Industries

In related news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of Mohawk Industries stock in a transaction on Monday, July 28th. The shares were sold at an average price of $120.81, for a total value 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. The trade was a 32.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suzanne L. Helen sold 2,500 shares of the stock in a transaction 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 transaction, the insider directly owned 91,084 shares in the company, valued at $10,984,730.40. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by company insiders.

Mohawk Industries Price Performance

NYSE MHK opened at $121.24 on Thursday. The company has a 50 day simple moving average of $108.48 and a 200-day simple moving average of $111.16. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 2.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18.

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

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.

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