Stonebridge Financial Group LLC Purchases New Shares in Mohawk Industries, Inc. (NYSE:MHK)

Stonebridge Financial Group LLC acquired a new position in Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 737 shares of the company’s stock, valued at approximately $88,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of Mohawk Industries by 8.8% during the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock valued at $13,583,000 after buying an additional 6,863 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the period. Natixis Advisors LLC raised its position in shares of 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 acquiring an additional 14,480 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Mohawk Industries by 106.7% in the 4th quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock valued at $984,000 after purchasing an additional 4,264 shares during the period. Finally, Cerity Partners LLC bought a new stake in shares of Mohawk Industries during the third quarter valued at approximately $1,935,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MHK has been the subject of a number of research reports. Barclays decreased their price objective on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Raymond James reaffirmed 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. Finally, Truist Financial dropped their price target on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research report on Monday. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the sale, the insider now directly owns 104,084 shares in the company, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by insiders.

Mohawk Industries Stock Performance

MHK stock opened at $116.77 on Thursday. The stock’s 50 day simple moving average is $123.32 and its 200 day simple moving average is $140.07. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $104.88 and a 12-month high of $164.29. The stock has a market capitalization of $7.37 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, research analysts forecast that Mohawk Industries, Inc. will post 10.71 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.