Mohawk Industries, Inc. (NYSE:MHK) Stock Holdings Boosted by Townsend & Associates Inc

Townsend & Associates Inc raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 104.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,266 shares of the company's stock after purchasing an additional 131,076 shares during the quarter. Mohawk Industries accounts for 3.1% of Townsend & Associates Inc's portfolio, making the stock its 9th largest holding. Townsend & Associates Inc owned approximately 0.40% of Mohawk Industries worth $25,004,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its position in Mohawk Industries by 5.5% in the fourth quarter. Fifth Third Bancorp now owns 2,006 shares of the company's stock valued at $208,000 after buying an additional 105 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Mohawk Industries by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company's stock worth $1,993,000 after acquiring an additional 120 shares during the last quarter. Signaturefd LLC increased its holdings in Mohawk Industries by 29.4% during the 4th 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. SG Americas Securities LLC raised its position in Mohawk Industries by 2.1% in the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company's stock valued at $698,000 after purchasing an additional 136 shares during the last quarter. Finally, Huntington National Bank raised its position 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 purchasing an additional 143 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Trading Up 1.3 %

Shares of MHK stock traded up $1.50 on Thursday, reaching $119.72. The company had a trading volume of 412,553 shares, compared to its average volume of 698,665. The company has a 50-day moving average of $119.22 and a 200-day moving average of $105.22. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $131.19. The stock has a market cap of $7.65 billion, a PE ratio of -18.09, a PEG ratio of 1.17 and a beta of 1.35. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.16. The company 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 period last year, the firm posted $1.75 earnings per share. On average, equities analysts forecast that Mohawk Industries, Inc. will post 9.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a "hold" rating to a "buy" rating and lifted their price target for the company from $98.00 to $152.00 in a report on Monday, February 12th. Truist Financial raised their price target on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a "buy" rating in a report on Monday, April 29th. Wells Fargo & Company reduced their price objective on Mohawk Industries from $105.00 to $100.00 and set an "underweight" rating on the stock in a report on Monday, January 22nd. TheStreet upgraded Mohawk Industries from a "d+" rating to a "c-" rating in a research report on Monday, March 4th. Finally, StockNews.com upgraded Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Saturday, February 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $121.33.

Insider Activity

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.10% of the stock is currently owned by company 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.