Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lessened its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 97.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 502 shares of the company's stock after selling 21,263 shares during the period. Asset Management One Co. Ltd.'s holdings in Mohawk Industries were worth $53,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MHK. Arizona State Retirement System raised its stake in Mohawk Industries by 2.5% during the 4th quarter. Arizona State Retirement System now owns 15,132 shares of the company's stock worth $1,566,000 after acquiring an additional 364 shares during the period. KG&L Capital Management LLC bought a new stake in Mohawk Industries during the 4th quarter worth approximately $446,000. ForthRight Wealth Management LLC bought a new stake in Mohawk Industries during the 4th quarter worth approximately $233,000. Fifth Third Bancorp raised its stake in Mohawk Industries by 5.5% during the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company's stock worth $208,000 after acquiring an additional 105 shares during the period. Finally, Wilsey Asset Management Inc. raised its stake in Mohawk Industries by 1.5% during the 4th quarter. Wilsey Asset Management Inc. now owns 132,361 shares of the company's stock worth $13,699,000 after acquiring an additional 1,956 shares during the period. Institutional investors own 78.98% of the company's stock.

Analyst Ratings Changes

MHK has been the topic of a number of recent analyst reports. Truist Financial raised their target price on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a "buy" rating in a research note on Tuesday, February 13th. StockNews.com upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Saturday, February 17th. TheStreet upgraded shares of Mohawk Industries from a "d+" rating to a "c-" rating in a research report on Monday, March 4th. The Goldman Sachs Group lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating and lifted their price objective for the company from $98.00 to $152.00 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 issued a buy rating to the company. According to MarketBeat, Mohawk Industries has an average rating of "Hold" and a consensus price target of $117.56.

Mohawk Industries Price Performance

Shares of MHK stock traded down $1.45 on Monday, reaching $111.72. The company's stock had a trading volume of 847,888 shares, compared to its average volume of 719,290. The stock's fifty day simple moving average is $119.29 and its 200-day simple moving average is $101.61. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -16.14 and a beta of 1.34.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.86 by $0.10. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. Mohawk Industries's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 earnings per share. Analysts forecast that Mohawk Industries, Inc. will post 9.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.10% of the stock is owned by insiders.

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.