Northern Trust Corp Has $60.46 Million Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Northern Trust Corp boosted its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 507,474 shares of the company's stock after acquiring an additional 26,075 shares during the period. Northern Trust Corp owned 0.80% of Mohawk Industries worth $60,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Mohawk Industries by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock worth $742,154,000 after buying an additional 20,327 shares during the period. JPMorgan Chase & Co. grew its holdings in Mohawk Industries by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock worth $383,076,000 after acquiring an additional 191,077 shares during the period. Invesco Ltd. raised its position in shares of Mohawk Industries by 16.3% during the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock valued at $205,545,000 after acquiring an additional 241,448 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 valued at $162,793,000 after purchasing an additional 354,656 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Mohawk Industries by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock worth $154,488,000 after purchasing an additional 22,736 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 93,584 shares of the company's stock, valued at $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.40% of the stock is owned by insiders.

Analysts Set New Price Targets

MHK has been the topic of several analyst reports. Wells Fargo & Company cut their target price 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. StockNews.com cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Loop Capital cut their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Truist Financial decreased their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a report on Monday, February 10th. Finally, Evercore ISI reduced their target price on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Mohawk Industries Stock Up 1.2 %

Shares of NYSE:MHK traded up $1.25 during midday trading on Friday, reaching $106.36. The company had a trading volume of 784,706 shares, compared to its average volume of 749,993. The business's 50 day moving average price is $108.83 and its 200 day moving average price is $121.22. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year 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 stock has a market cap of $6.65 billion, a PE ratio of 13.08, a P/E/G ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The firm'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 EPS. Research analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

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.