XTX Topco Ltd Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Key Points

• XTX Topco Ltd has acquired a new stake in Mohawk Industries, purchasing 6,566 shares valued at approximately $750,000 in the first quarter.
• Institutional investors hold 78.98% of Mohawk Industries stock, indicating strong institutional interest in the company.
• Mohawk Industries reported $2.77 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $2.80 billion.

XTX Topco Ltd purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,566 shares of the company's stock, valued at approximately $750,000.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in shares of Mohawk Industries by 11.3% in the 4th quarter. LPL Financial LLC now owns 12,569 shares of the company's stock valued at $1,497,000 after acquiring an additional 1,273 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in Mohawk Industries by 22.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 1,707 shares of the company's stock valued at $203,000 after purchasing an additional 314 shares during the last quarter. Franklin Resources Inc. lifted its position in Mohawk Industries by 31.4% in the fourth quarter. Franklin Resources Inc. now owns 48,822 shares of the company's stock valued at $5,816,000 after purchasing an additional 11,660 shares during the last quarter. Geode Capital Management LLC lifted its position in Mohawk Industries by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock valued at $154,488,000 after purchasing an additional 22,736 shares during the last quarter. Finally, Huntington National Bank lifted its position in Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 2,500 shares of Mohawk Industries stock in a transaction that occurred 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 completion of the transaction, the insider owned 91,084 shares in the company, valued at approximately $10,984,730.40. The trade was a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $120.81, for a total value of $1,932,960.00. Following the completion of the transaction, the chief executive officer owned 33,600 shares of the company's stock, valued at approximately $4,059,216. This trade represents a 32.26% decrease in their position. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by insiders.

Mohawk Industries Stock Performance

NYSE:MHK opened at $119.42 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The stock has a 50-day moving average price of $107.76 and a 200 day moving average price of $111.02. The stock has a market capitalization of $7.42 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.54 and a beta of 1.28.

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

Wall Street Analyst Weigh In

MHK has been the topic of several research analyst reports. Barclays boosted their target price on Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Wells Fargo & Company upped their price target on Mohawk Industries from $105.00 to $115.00 and gave the company 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 report on Monday, May 5th. Royal Bank Of Canada increased their target price on Mohawk Industries from $119.00 to $123.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. Finally, Evercore ISI lowered their target price on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $140.14.

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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