ARGA Investment Management LP Raises Stake in Mohawk Industries, Inc. (NYSE:MHK)

ARGA Investment Management LP boosted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 50.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 500,159 shares of the company's stock after purchasing an additional 168,401 shares during the period. Mohawk Industries makes up 1.8% of ARGA Investment Management LP's investment portfolio, making the stock its 16th largest holding. ARGA Investment Management LP owned about 0.79% of Mohawk Industries worth $51,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Huntington National Bank boosted 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 valued at $46,000 after acquiring an additional 143 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Mohawk Industries by 88.1% in the fourth 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 holdings in shares of 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 acquiring an additional 128 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Mohawk Industries in the fourth quarter valued at about $101,000. Finally, Fifth Third Bancorp boosted its holdings 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 valued at $163,000 after acquiring an additional 281 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction that occurred 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 owns 15,321 shares of the company's stock, valued at $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 17.10% of the company's stock.

Mohawk Industries Trading Down 2.0 %

Shares of MHK stock traded down $2.41 during trading hours on Thursday, hitting $120.87. 408,628 shares of the company were exchanged, compared to its average volume of 690,623. The firm has a market cap of $7.72 billion, a PE ratio of -18.85, a PEG ratio of 1.20 and a beta of 1.35. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $119.36 and a 200 day moving average of $106.73.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.16. The firm had revenue of $2.68 billion during 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 company's revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 EPS. Analysts expect that Mohawk Industries, Inc. will post 9.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MHK shares. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $98.00 to $152.00 in a report on Monday, February 12th. Truist Financial boosted their price objective 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. Royal Bank of Canada lifted their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a "sector perform" rating in a research report on Monday, April 29th. Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an "underweight" rating on the stock in a research report on Monday, January 22nd. Finally, Barclays reduced their target price on Mohawk Industries from $122.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $121.33.

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.

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