37,754 Mohawk Industries, Inc. $MHK Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,105,087 shares of the company’s stock after selling 37,754 shares during the period. Pzena Investment Management LLC owned about 1.63% of Mohawk Industries worth $137,826,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MHK. Provenance Wealth Advisors LLC purchased a new position in Mohawk Industries during the third quarter worth about $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mohawk Industries during the 3rd quarter valued at about $81,000. Vise Technologies Inc. grew its stake in shares of Mohawk Industries by 98.9% during the third quarter. Vise Technologies Inc. now owns 4,000 shares of the company’s stock valued at $499,000 after acquiring an additional 1,989 shares in the last quarter. Choreo LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at approximately $458,000. Finally, Interchange Capital Partners LLC acquired a new stake in Mohawk Industries in the third quarter valued at $217,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Suzanne L. Helen sold 800 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $125.62, for a total transaction of $100,496.00. Following the completion of the transaction, the insider directly owned 5,332 shares in the company, valued at approximately $669,805.84. The trade was a 13.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bernard Thiers sold 15,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $144.05, for a total value of $2,160,750.00. Following the completion of the transaction, the director directly owned 78,633 shares of the company’s stock, valued at $11,327,083.65. This trade represents a 16.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 118,300 shares of company stock valued at $15,545,601. Insiders own 17.90% of the company’s stock.

Wall Street Analysts Forecast Growth

MHK has been the subject of a number of research reports. Royal Bank Of Canada downgraded shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $130.00 to $112.00 in a report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $121.00 price target on shares of Mohawk Industries in a research report on Tuesday, August 4th. Barclays lifted their price target on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday. Wall Street Zen lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Robert W. Baird raised their target price on shares of Mohawk Industries from $132.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Mohawk Industries has an average rating of “Hold” and a consensus price target of $138.92.

Mohawk Industries News Summary

Here are the key news stories impacting Mohawk Industries this week:

• Positive Sentiment: Evercore ISI upgraded MHK to Outperform from In Line, pointing to an expected $1.1 billion share-buyback outlook that could support shareholder returns. Evercore upgrade and buyback outlook
• Neutral Sentiment: Baird raised its price target to $142 from $132 but kept a Neutral rating. Barclays lifted its target to $125 from $115 and maintained Equal Weight. The higher targets are positive revisions, though both firms remain cautious. Baird price target update Barclays price target update
• Negative Sentiment: Two directors sold a combined 25,000 shares for approximately $3.64 million. Bernard Thiers reduced his stake by about 16%, and Jeffrey Lorberbaum’s sale lowered his position by roughly 13%. Insider sales can concern investors, although the filings do not state the reasons for the transactions. Director share sales Lorberbaum SEC filing

Mohawk Industries Stock Performance

Shares of MHK opened at $153.38 on Thursday. The firm has a fifty day moving average of $126.57 and a 200-day moving average of $116.99. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.95 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.91. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $154.46.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, October 29th. The company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.14. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.67 EPS. As a group, equities analysts anticipate that Mohawk Industries, Inc. will post 9.76 earnings per share for the current year.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.