Raymond James Financial Inc. Acquires Shares of 41,054 Mohawk Industries, Inc. (NYSE:MHK)

Raymond James Financial Inc. acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 41,054 shares of the company's stock, valued at approximately $4,891,000. Raymond James Financial Inc. owned 0.07% of Mohawk Industries as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Mohawk Industries by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock worth $742,154,000 after buying an additional 20,327 shares during the period. JPMorgan Chase & Co. boosted its holdings in Mohawk Industries by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock valued at $383,076,000 after acquiring an additional 191,077 shares during the period. Invesco Ltd. grew its position in Mohawk Industries by 16.3% in the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock valued at $205,545,000 after acquiring an additional 241,448 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock worth $162,793,000 after purchasing an additional 354,656 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Mohawk Industries by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock worth $154,488,000 after purchasing an additional 22,736 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MHK. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They set a "hold" rating and a $121.00 target price on the stock. Truist Financial reduced their price objective on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group lowered their target price on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Bank of America cut their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of "Moderate Buy" and an average price target of $142.57.

Mohawk Industries Stock Performance

NYSE:MHK traded up $1.05 during mid-day trading on Thursday, reaching $107.40. 173,067 shares of the stock were exchanged, compared to its average volume of 735,033. The stock has a market capitalization of $6.71 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.44 and a beta of 1.23. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29. The company has a 50 day simple moving average of $110.62 and a 200-day simple moving average of $123.88. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

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

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.