Stonebridge Financial Group LLC Takes $88,000 Position in Mohawk Industries, Inc. (NYSE:MHK)

Stonebridge Financial Group LLC acquired a new position in Mohawk Industries, Inc. (NYSE:MHK) during the 4th quarter, Holdings Channel reports. The firm acquired 737 shares of the company’s stock, valued at approximately $88,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Meeder Asset Management Inc. raised its position in Mohawk Industries by 8.8% in the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after acquiring an additional 6,863 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after purchasing an additional 74,123 shares in the last quarter. Natixis Advisors LLC raised its holdings in Mohawk Industries by 19.8% in the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after purchasing an additional 14,480 shares during the period. Pacer Advisors Inc. raised its holdings in Mohawk Industries by 106.7% in the 4th quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock worth $984,000 after purchasing an additional 4,264 shares during the period. Finally, Cerity Partners LLC purchased a new position in Mohawk Industries during the third quarter valued at $1,935,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the sale, the insider now owns 2,453 shares in the company, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MHK shares. Loop Capital reduced their price target on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Monday. Raymond James restated a “strong-buy” rating and set a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday. Truist Financial lowered their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating, seven have issued 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 $146.92.

Mohawk Industries Stock Down 2.1 %

Shares of MHK stock opened at $116.77 on Thursday. The company’s fifty day simple moving average is $123.32 and its two-hundred day simple moving average is $140.07. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29. The stock has a market cap of $7.37 billion, a P/E ratio of 14.36, a PEG ratio of 1.60 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. Analysts predict that Mohawk Industries, Inc. will post 10.71 EPS for the current fiscal year.

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.