Allspring Global Investments Holdings LLC Sells 22,528 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Allspring Global Investments Holdings LLC reduced its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 17.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 104,054 shares of the company's stock after selling 22,528 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of Mohawk Industries worth $10,770,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MHK. Gyon Technologies Capital Management LP bought a new stake in Mohawk Industries in the 4th quarter valued at about $30,000. Rockefeller Capital Management L.P. raised its stake in Mohawk Industries by 143.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company's stock valued at $31,000 after acquiring an additional 181 shares during the period. UniSuper Management Pty Ltd bought a new stake in Mohawk Industries in the 2nd quarter valued at about $41,000. Huntington National Bank raised its stake in Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company's stock valued at $46,000 after acquiring an additional 143 shares during the period. Finally, Covestor Ltd grew its holdings in Mohawk Industries by 191.0% during the 1st quarter. Covestor Ltd now owns 390 shares of the company's stock valued at $49,000 after buying an additional 256 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Mohawk Industries from $101.00 to $106.00 and gave the company a "sector perform" rating in a report on Monday, February 12th. Truist Financial lifted their target price on Mohawk Industries from $98.00 to $127.00 and gave the company a "buy" rating in a report on Tuesday, February 13th. TheStreet raised Mohawk Industries from a "d+" rating to a "c-" rating in a report on Monday, March 4th. StockNews.com raised Mohawk Industries from a "hold" rating to a "buy" rating in a report on Saturday, February 17th. Finally, Wells Fargo & Company reduced their target price on Mohawk Industries from $105.00 to $100.00 and set an "underweight" rating for the company in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $117.56.

Mohawk Industries Price Performance

Shares of NYSE MHK traded down $1.22 during midday trading on Wednesday, hitting $108.27. 468,453 shares of the company's stock were exchanged, compared to its average volume of 716,242. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month 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 cap of $6.90 billion, a price-to-earnings ratio of -15.65 and a beta of 1.34. The business's fifty day moving average price is $119.33 and its two-hundred day moving average price is $101.82.

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, topping the consensus estimate of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. Mohawk Industries's revenue was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Mohawk Industries, Inc. will post 9.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the company's stock in a transaction that occurred on 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 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 can be accessed through this link. 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.