Lazard Asset Management LLC Purchases 17,650 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Lazard Asset Management LLC grew its position in Mohawk Industries, Inc. (NYSE:MHK) by 2,257.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,432 shares of the company’s stock after acquiring an additional 17,650 shares during the quarter. Lazard Asset Management LLC’s holdings in Mohawk Industries were worth $2,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MHK. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries in the fourth quarter valued at approximately $41,000. R Squared Ltd acquired a new position in shares of Mohawk Industries during the fourth quarter worth $66,000. Huntington National Bank lifted its holdings in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $85,000 after purchasing an additional 501 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in Mohawk Industries during the 4th quarter worth $88,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Up 0.4%

NYSE:MHK opened at $108.15 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The company’s fifty day moving average price is $108.11 and its 200-day moving average price is $120.05. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The firm has a market capitalization of $6.76 billion, a P/E ratio of 13.30, a PEG ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the company’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 value of $1,191,120.00. Following the sale, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 17.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MHK has been the subject of a number of research analyst reports. StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Truist Financial dropped their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company cut their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird lowered their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” 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 given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average target price of $140.00.

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.