Mohawk Industries, Inc. (NYSE:MHK) Position Cut by Quantinno Capital Management LP

Quantinno Capital Management LP lessened its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,092 shares of the company's stock after selling 3,382 shares during the period. Quantinno Capital Management LP's holdings in Mohawk Industries were worth $3,347,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MHK. Resona Asset Management Co. Ltd. acquired a new position in shares of Mohawk Industries during the fourth quarter worth about $41,000. R Squared Ltd acquired a new position in shares of Mohawk Industries during the fourth quarter worth about $66,000. Huntington National Bank lifted its stake in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after purchasing an additional 119 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Mohawk Industries by 233.0% during the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $85,000 after purchasing an additional 501 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Mohawk Industries during the fourth quarter worth about $88,000. Hedge funds and other institutional investors own 78.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MHK. Wells Fargo & Company reduced their price objective on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Bank of America reduced their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Robert W. Baird reduced their price objective on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Truist Financial cut their price target on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.00.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the company'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 transaction of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.40% of the company's stock.

Mohawk Industries Stock Down 0.2%

NYSE MHK traded down $0.25 on Thursday, hitting $102.23. 513,359 shares of the stock traded hands, compared to its average volume of 753,027. The stock has a 50-day moving average of $107.43 and a 200 day moving average of $119.32. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The company has a market capitalization of $6.39 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. 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 announced 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. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Mohawk Industries's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 earnings per share. As a group, analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Mohawk Industries Company 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.