First Trust Advisors LP Reduces Position in Mohawk Industries, Inc. (NYSE:MHK)

First Trust Advisors LP lessened its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 14.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,509 shares of the company’s stock after selling 1,087 shares during the quarter. First Trust Advisors LP’s holdings in Mohawk Industries were worth $775,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Mohawk Industries during the 4th quarter valued at approximately $61,171,000. Massachusetts Financial Services Co. MA raised its holdings in Mohawk Industries by 35.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock valued at $162,793,000 after acquiring an additional 354,656 shares in the last quarter. American Century Companies Inc. boosted its stake in Mohawk Industries by 48.7% during the 4th quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock valued at $114,224,000 after acquiring an additional 313,897 shares during the last quarter. Invesco Ltd. grew its holdings in Mohawk Industries by 16.3% during the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock worth $205,545,000 after acquiring an additional 241,448 shares in the last quarter. Finally, Lodge Hill Capital LLC increased its position in shares of Mohawk Industries by 406.3% in the 4th quarter. Lodge Hill Capital LLC now owns 258,220 shares of the company’s stock worth $30,762,000 after purchasing an additional 207,220 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Trading Up 4.3 %

Mohawk Industries stock opened at $105.16 on Friday. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.44 and a beta of 1.24. The firm has a 50-day moving average price of $108.96 and a two-hundred day moving average price of $121.54.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the company posted $1.86 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. Sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MHK. The Goldman Sachs Group reduced their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Truist Financial reduced their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company lowered their price target on Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Evercore ISI lowered their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.00.

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.