Pinebridge Investments L.P. Takes $824,000 Position in Mohawk Industries, Inc. (NYSE:MHK)

Pinebridge Investments L.P. acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,920 shares of the company's stock, valued at approximately $824,000.

Several other hedge funds and other institutional investors have also modified their holdings of MHK. Resona Asset Management Co. Ltd. acquired a new position in shares of Mohawk Industries in the 4th quarter valued at about $41,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries during the 3rd quarter worth approximately $55,000. Versant Capital Management Inc lifted its position in Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after acquiring an additional 223 shares in the last quarter. R Squared Ltd acquired a new position in Mohawk Industries during the 4th quarter worth approximately $66,000. Finally, Huntington National Bank lifted its position in Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after acquiring an additional 119 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MHK shares. Barclays reduced their price target on Mohawk Industries from $125.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Truist Financial reduced their price target on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Robert W. Baird reduced their price target on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. StockNews.com raised Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company cut their target price on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.57.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $106.81 on Tuesday. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The business has a 50 day simple moving average of $111.03 and a 200-day simple moving average of $124.13.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This represents a 10.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.40% of the stock is owned by company insiders.

Mohawk Industries 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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