Sciencast Management LP Grows Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Sciencast Management LP boosted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 59.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,088 shares of the company’s stock after buying an additional 2,262 shares during the period. Sciencast Management LP’s holdings in Mohawk Industries were worth $725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MHK. FMR LLC raised its holdings in Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after buying an additional 748,070 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Mohawk Industries by 33.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock valued at $162,586,000 after buying an additional 254,779 shares during the period. Amundi raised its holdings in Mohawk Industries by 117.4% during the 4th quarter. Amundi now owns 331,750 shares of the company’s stock valued at $39,239,000 after buying an additional 179,121 shares during the period. JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after buying an additional 74,123 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Mohawk Industries by 111.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 129,186 shares of the company’s stock valued at $20,758,000 after buying an additional 67,990 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Trading Down 2.2 %

Shares of NYSE:MHK opened at $111.75 on Friday. 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 $6.99 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $120.12 and a 200-day moving average price of $133.45.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Equities analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on MHK. The Goldman Sachs Group decreased their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Wednesday, January 8th. Loop Capital reduced their target price on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial reduced their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Mohawk Industries currently has an average rating of “Moderate Buy” and an average target price of $146.92.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is owned by company insiders.

About Mohawk Industries

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.