Mohawk Industries, Inc. (NYSE:MHK) Stock Position Lowered by Gotham Asset Management LLC

Gotham Asset Management LLC lowered its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,836 shares of the company's stock after selling 15,138 shares during the quarter. Gotham Asset Management LLC owned approximately 0.09% of Mohawk Industries worth $7,128,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MHK. Norges Bank acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $61,171,000. Massachusetts Financial Services Co. MA boosted its position in Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock worth $162,793,000 after acquiring an additional 354,656 shares during the last quarter. American Century Companies Inc. boosted its position in Mohawk Industries by 48.7% during the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company's stock worth $114,224,000 after acquiring an additional 313,897 shares during the last quarter. Invesco Ltd. boosted its position in Mohawk Industries by 16.3% during the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock worth $205,545,000 after acquiring an additional 241,448 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $27,519,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries 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 sale, the insider now owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.40% of the stock is owned by company insiders.

Mohawk Industries Stock Up 0.4%

MHK stock traded up $0.40 during mid-day trading on Friday, hitting $108.15. 700,734 shares of the company were exchanged, compared to its average volume of 756,273. The company has a market capitalization of $6.76 billion, a PE ratio of 13.30, 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, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The firm has a fifty day simple moving average of $108.11 and a 200 day simple moving average of $119.95.

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 for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.86 EPS. On average, research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MHK. Barclays cut their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Loop Capital cut their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Evercore ISI cut their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company cut their price target on shares of 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. Finally, Truist Financial cut their price target on shares of 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 equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Mohawk Industries presently has an average rating of "Moderate Buy" and an average target price of $140.00.

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.