Alyeska Investment Group L.P. Sells 62,450 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Alyeska Investment Group L.P. lessened its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,935 shares of the company's stock after selling 62,450 shares during the period. Alyeska Investment Group L.P. owned 0.22% of Mohawk Industries worth $16,790,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Mohawk Industries during the fourth quarter valued at about $61,171,000. Massachusetts Financial Services Co. MA lifted its position in shares of Mohawk Industries by 35.0% in the 4th 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 period. American Century Companies Inc. increased its position in shares of Mohawk Industries by 48.7% during the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company's stock valued at $114,224,000 after purchasing an additional 313,897 shares during the period. Invesco Ltd. raised its stake in shares of Mohawk Industries by 16.3% in the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock valued at $205,545,000 after purchasing an additional 241,448 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Mohawk Industries during the fourth quarter worth $27,519,000. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Trading Up 1.2 %

NYSE MHK traded up $1.25 during trading hours on Friday, hitting $106.36. The company's stock had a trading volume of 746,650 shares, compared to its average volume of 748,497. The stock has a fifty day moving average of $108.96 and a 200 day moving average of $121.54. The company has a quick ratio of 1.12, a current ratio of 2.06 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 market capitalization of $6.65 billion, a P/E ratio of 13.08, a PEG ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. Equities research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on Friday, March 14th. The shares were 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 approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MHK has been the topic of a number of analyst reports. Robert W. Baird lowered their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group lowered their price objective on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday. Truist Financial lowered their price target 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. Finally, Loop Capital reduced their target price 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. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average price target of $140.00.

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.