Russell Investments Group Ltd. Boosts Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Russell Investments Group Ltd. raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 159.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,108 shares of the company's stock after acquiring an additional 90,359 shares during the period. Russell Investments Group Ltd. owned approximately 0.23% of Mohawk Industries worth $15,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its position in Mohawk Industries by 36.0% during the third quarter. Huntington National Bank now owns 540 shares of the company's stock worth $46,000 after buying an additional 143 shares in the last quarter. Allworth Financial LP increased its position in shares of Mohawk Industries by 88.1% in the fourth quarter. Allworth Financial LP now owns 521 shares of the company's stock worth $54,000 after purchasing an additional 244 shares during the period. Signaturefd LLC raised its stake in Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company's stock valued at $58,000 after purchasing an additional 128 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in Mohawk Industries during the fourth quarter worth about $101,000. Finally, Fifth Third Bancorp grew its stake in Mohawk Industries by 17.3% during the third quarter. Fifth Third Bancorp now owns 1,901 shares of the company's stock worth $163,000 after buying an additional 281 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Trading Up 0.6 %

Shares of NYSE:MHK traded up $0.75 during trading on Friday, reaching $116.37. The stock had a trading volume of 431,400 shares, compared to its average volume of 674,742. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. The firm's fifty day moving average is $119.03 and its 200 day moving average is $104.42. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of -17.79, a P/E/G ratio of 1.16 and a beta of 1.35.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.16. The business had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business's quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 earnings per share. As a group, equities analysts forecast that Mohawk Industries, Inc. will post 9.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on MHK. The Goldman Sachs Group boosted 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. Truist Financial increased their target price on shares of Mohawk Industries from $127.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Mohawk Industries from $122.00 to $124.00 and gave the company a "neutral" rating in a research note on Friday. Royal Bank of Canada increased their price target on Mohawk Industries from $106.00 to $108.00 and gave the company a "sector perform" rating in a research note on Monday, April 29th. Finally, Loop Capital dropped their target price on Mohawk Industries from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $121.33.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the firm's stock in a transaction on Tuesday, March 12th. The shares were 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 available at the SEC website. Insiders own 17.10% of the company's stock.

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.