Natixis Advisors LLC Boosts Stake in Mohawk Industries, Inc. (NYSE:MHK)

Key Points

• Natixis Advisors LLC increased its stake in Mohawk Industries by 8.6%, purchasing an additional 6,632 shares, bringing its total ownership to approximately 0.13% or $9.5 million.
• Mohawk Industries reported a quarterly earnings per share of $2.77, exceeding analysts' expectations, with revenues of $2.80 billion.
• Analysts have generally rated the stock with a consensus rating of "Moderate Buy", with target prices ranging from $123.00 to $140.00 based on recent assessments.

Natixis Advisors LLC grew its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,607 shares of the company's stock after purchasing an additional 6,632 shares during the period. Natixis Advisors LLC owned about 0.13% of Mohawk Industries worth $9,546,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Federated Hermes Inc. raised its holdings in shares of Mohawk Industries by 326.3% in the first quarter. Federated Hermes Inc. now owns 243 shares of the company's stock valued at $28,000 after buying an additional 186 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Mohawk Industries during the fourth quarter worth approximately $41,000. Huntington National Bank raised its holdings in Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after purchasing an additional 119 shares during the period. Allworth Financial LP boosted its position in shares of Mohawk Industries by 36.2% during the first quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after purchasing an additional 158 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in shares of Mohawk Industries in the 4th quarter valued at $92,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MHK shares. Wells Fargo & Company raised their price objective on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Robert W. Baird upped their price objective on Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Royal Bank Of Canada reissued a "sector perform" rating and set a $123.00 target price (up previously from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Finally, Evercore ISI lowered their price target on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research report on Monday, July 28th. 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 company's stock. Based on data from MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average price target of $140.14.

Mohawk Industries Trading Up 0.2%

MHK stock traded up $0.20 during midday trading on Friday, hitting $120.65. The stock had a trading volume of 219,090 shares, compared to its average volume of 810,160. The company has a current ratio of 2.13, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The firm has a market cap of $7.50 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. The business has a fifty day moving average price of $108.85 and a two-hundred day moving average price of $111.10. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.15. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the prior year, the business earned $3.00 EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 value of $301,500.00. Following the transaction, the insider directly owned 91,084 shares in the company, valued at $10,984,730.40. This trade represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the sale, the chief executive officer owned 33,600 shares of the company's stock, valued at $4,059,216. This trade represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Company 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.