Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Mather Group LLC.

Mather Group LLC. lessened its stake in Mohawk Industries, Inc. (NYSE:MHK) by 6.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,198 shares of the company’s stock after selling 148 shares during the period. Mather Group LLC.’s holdings in Mohawk Industries were worth $353,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Mohawk Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after buying an additional 17,541 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mohawk Industries by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after buying an additional 292,661 shares during the last quarter. Select Equity Group L.P. lifted its position in Mohawk Industries by 8.5% in the second quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after purchasing an additional 132,879 shares during the period. Pacer Advisors Inc. boosted its holdings in Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after purchasing an additional 360,628 shares in the last quarter. Finally, Brandes Investment Partners LP increased its position in shares of Mohawk Industries by 10.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock worth $115,057,000 after purchasing an additional 96,174 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Down 1.4 %

Shares of NYSE MHK opened at $156.78 on Friday. The stock has a 50-day moving average price of $152.64 and a two-hundred day moving average price of $131.47. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $164.05. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $10.01 billion, a price-to-earnings ratio of -23.97, a PEG ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.75 by $0.25. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the company earned $2.76 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, analysts forecast that Mohawk Industries, Inc. will post 10 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MHK shares. The Goldman Sachs Group boosted their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $140.00 to $160.00 in a report on Monday. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. Robert W. Baird boosted their price objective on shares of Mohawk Industries from $132.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Truist Financial lifted their price target on Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

Insider Activity at Mohawk Industries

In other news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the sale, the insider now owns 121,669 shares of the company’s stock, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock worth $673,387 over the last ninety days. Insiders own 17.10% of the company’s stock.

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.