ARGA Investment Management LP Purchases 458,349 Shares of Mohawk Industries, Inc. $MHK

ARGA Investment Management LP grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1,508.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 488,741 shares of the company’s stock after acquiring an additional 458,349 shares during the quarter. Mohawk Industries comprises about 1.7% of ARGA Investment Management LP’s investment portfolio, making the stock its 15th biggest holding. ARGA Investment Management LP’s holdings in Mohawk Industries were worth $63,008,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MHK. Yousif Capital Management LLC grew its position in shares of Mohawk Industries by 1.1% during the 2nd quarter. Yousif Capital Management LLC now owns 8,374 shares of the company’s stock valued at $878,000 after acquiring an additional 88 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in Mohawk Industries by 22.6% during the third quarter. Resona Asset Management Co. Ltd. now owns 612 shares of the company’s stock valued at $78,000 after buying an additional 113 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Mohawk Industries by 4.3% in the third quarter. Wedmont Private Capital now owns 3,031 shares of the company’s stock valued at $372,000 after purchasing an additional 126 shares in the last quarter. Mather Group LLC. grew its stake in shares of Mohawk Industries by 6.3% in the 3rd quarter. Mather Group LLC. now owns 2,344 shares of the company’s stock worth $302,000 after buying an additional 138 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Mohawk Industries by 9.7% during the third quarter. Asset Management One Co. Ltd. now owns 1,883 shares of the company’s stock worth $243,000 after acquiring an additional 166 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

NYSE:MHK opened at $120.75 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $143.13. The company has a 50 day moving average price of $112.80 and a 200 day moving average price of $119.41. The stock has a market capitalization of $7.46 billion, a P/E ratio of 17.97, a PEG ratio of 2.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 2.25.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 23rd. The company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). Mohawk Industries had a return on equity of 6.97% and a net margin of 3.93%.The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the company earned $2.90 earnings per share. Mohawk Industries’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analysts Set New Price Targets

MHK has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their price objective on shares of Mohawk Industries from $134.00 to $128.00 and set a “hold” rating on the stock in a research report on Monday, December 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Mohawk Industries in a report on Friday, October 31st. Wolfe Research cut shares of Mohawk Industries from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Vertical Research began coverage on Mohawk Industries in a research report on Monday, October 20th. They set a “buy” rating on the stock. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $150.00 price objective (up from $140.00) on shares of Mohawk Industries in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.83.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $109.00, for a total transaction of $294,300.00. Following the completion of the sale, the insider owned 67,893 shares in the company, valued at approximately $7,400,337. The trade was a 3.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 17,600 shares of company stock worth $1,945,754. 17.40% of the stock is currently owned by company insiders.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.