Assenagon Asset Management S.A. Increases Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Assenagon Asset Management S.A. grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 25.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,711 shares of the company's stock after purchasing an additional 17,961 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of Mohawk Industries worth $9,182,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Gyon Technologies Capital Management LP purchased a new position in Mohawk Industries in the fourth quarter worth $30,000. Rockefeller Capital Management L.P. grew its position in Mohawk Industries by 143.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company's stock worth $31,000 after acquiring an additional 181 shares in the last quarter. Natixis purchased a new position in Mohawk Industries in the second quarter worth $40,000. Covestor Ltd grew its position in Mohawk Industries by 191.0% in the first quarter. Covestor Ltd now owns 390 shares of the company's stock worth $49,000 after acquiring an additional 256 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new position in Mohawk Industries in the second quarter worth $41,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Trading Up 1.5 %

Shares of NYSE:MHK traded up $1.97 during midday trading on Friday, hitting $130.89. 449,024 shares of the stock traded hands, compared to its average volume of 585,049. The stock has a market capitalization of $8.34 billion, a PE ratio of -18.91 and a beta of 1.33. The business's 50 day moving average is $115.26 and its two-hundred day moving average is $99.05. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $131.19.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.86 by $0.10. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The company's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. As a group, research analysts forecast that Mohawk Industries, Inc. will post 9.59 earnings per share for the current year.

Insider Activity

In other news, VP Rodney David Patton sold 1,551 shares of the company's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company's stock, valued at $1,831,012.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MHK. Truist Financial upped their target price on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Royal Bank of Canada upped their price target on shares of Mohawk Industries from $101.00 to $106.00 and gave the company a "sector perform" rating in a research report on Monday, February 12th. The Goldman Sachs Group upped their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating and upped their price target for the company from $98.00 to $152.00 in a research report on Monday, February 12th. Finally, Barclays upped their price target on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an "equal weight" rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $117.56.

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.