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Vanguard Group Inc. Acquires 39,143 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Mohawk Industries logo with Consumer Discretionary background

Vanguard Group Inc. boosted its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,240,136 shares of the company's stock after purchasing an additional 39,143 shares during the period. Vanguard Group Inc. owned 9.80% of Mohawk Industries worth $645,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its position in Mohawk Industries by 72.1% during the 4th quarter. Truist Financial Corp now owns 294,894 shares of the company's stock worth $30,522,000 after purchasing an additional 123,508 shares in the last quarter. Point72 Europe London LLP purchased a new position in shares of Mohawk Industries during the 4th quarter valued at $679,000. Goldman Sachs Group Inc. grew its holdings in shares of Mohawk Industries by 48.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company's stock valued at $31,349,000 after acquiring an additional 98,920 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Mohawk Industries during the 3rd quarter valued at $1,170,000. Finally, ARGA Investment Management LP grew its holdings in shares of Mohawk Industries by 50.8% during the 4th quarter. ARGA Investment Management LP now owns 500,159 shares of the company's stock valued at $51,766,000 after acquiring an additional 168,401 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 1,800 shares of the business's stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the transaction, the insider now owns 122,369 shares in the company, valued at approximately $13,673,512.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.10% of the company's stock.


Mohawk Industries Stock Performance

Mohawk Industries stock traded down $0.23 on Monday, reaching $112.77. 592,529 shares of the stock were exchanged, compared to its average volume of 673,223. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $131.19. The firm has a fifty day moving average price of $115.67 and a two-hundred day moving average price of $112.83.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its 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 firm had revenue of $2.68 billion during the quarter, compared to analyst estimates 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 revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, analysts expect that Mohawk Industries, Inc. will post 9.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TheStreet upgraded shares of Mohawk Industries from a "d+" rating to a "c-" rating in a report on Monday, March 4th. Royal Bank of Canada boosted their price target on shares of Mohawk Industries from $106.00 to $108.00 and gave the company a "sector perform" rating in a report on Monday, April 29th. Barclays lowered their price target on shares of Mohawk Industries from $122.00 to $120.00 and set an "equal weight" rating on the stock in a report on Monday, April 29th. Loop Capital reduced their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 29th. Finally, Truist Financial lifted their price objective on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.20.

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Mohawk Industries Company Profile

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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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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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