Partnership Wealth Management LLC Takes $1.07 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

Partnership Wealth Management LLC purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,269 shares of the company's stock, valued at approximately $1,071,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Huntington National Bank increased its holdings in shares of Mohawk Industries by 36.0% in the third quarter. Huntington National Bank now owns 540 shares of the company's stock worth $46,000 after purchasing an additional 143 shares during the period. Allworth Financial LP raised its holdings in shares of Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company's stock valued at $54,000 after acquiring an additional 244 shares in the last quarter. Signaturefd LLC boosted its position in shares of 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 acquiring an additional 128 shares during the last quarter. Byrne Asset Management LLC purchased a new position in shares of Mohawk Industries during the fourth quarter worth about $101,000. Finally, Fifth Third Bancorp increased its position in shares of Mohawk Industries by 17.3% in the third quarter. Fifth Third Bancorp now owns 1,901 shares of the company's stock worth $163,000 after purchasing an additional 281 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the business'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 transaction of $185,360.01. Following the transaction, the vice president now directly owns 15,321 shares of the company's stock, valued at $1,831,012.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 17.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on MHK. StockNews.com raised shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research note on Saturday, February 17th. Wells Fargo & Company lowered their price target on Mohawk Industries from $105.00 to $100.00 and set an "underweight" rating on the stock in a research report on Monday, January 22nd. Royal Bank of Canada upped their price objective on Mohawk Industries from $106.00 to $108.00 and gave the stock a "sector perform" rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a "hold" rating to a "buy" rating and raised their price objective for the company from $98.00 to $152.00 in a report on Monday, February 12th. Finally, Truist Financial upped their target price on Mohawk Industries from $127.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries has an average rating of "Hold" and a consensus price target of $121.33.

Mohawk Industries Trading Up 0.1 %

Mohawk Industries stock traded up $0.09 during trading hours on Friday, reaching $119.81. The company had a trading volume of 469,831 shares, compared to its average volume of 644,426. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $131.19. The company has a 50-day moving average price of $119.21 and a 200 day moving average price of $105.98. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of -18.32, a P/E/G ratio of 1.19 and a beta of 1.35.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 earnings per share. Equities analysts forecast that Mohawk Industries, Inc. will post 9.65 earnings per share for the current year.

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.

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