FORA Capital LLC Buys New Stake in Mohawk Industries, Inc. (NYSE:MHK)

FORA Capital LLC bought a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,988 shares of the company's stock, valued at approximately $475,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries during the third quarter valued at approximately $55,000. Franklin Resources Inc. raised its holdings in shares of Mohawk Industries by 32.8% in the 3rd quarter. Franklin Resources Inc. now owns 37,162 shares of the company's stock valued at $5,878,000 after purchasing an additional 9,173 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Mohawk Industries by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 61,724 shares of the company's stock worth $9,918,000 after acquiring an additional 2,601 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock valued at $485,983,000 after acquiring an additional 74,123 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Mohawk Industries by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company's stock valued at $819,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on MHK shares. Wells Fargo & Company reduced their target price on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Barclays cut their price target on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Truist Financial decreased their target price on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Loop Capital cut their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price on the stock. Seven investment 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.40% of the stock is currently owned by company insiders.

Mohawk Industries Trading Down 0.1%

NYSE:MHK traded down $0.06 during trading hours on Thursday, reaching $107.20. 348,770 shares of the stock were exchanged, compared to its average volume of 752,785. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $108.37 and a two-hundred day moving average of $120.49. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating 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 company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the company posted $1.86 EPS. Mohawk Industries's revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current 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.