Swiss National Bank Has $20.09 Million Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Swiss National Bank cut its position in Mohawk Industries, Inc. (NYSE:MHK) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 194,700 shares of the company’s stock after selling 6,400 shares during the quarter. Swiss National Bank’s holdings in Mohawk Industries were worth $20,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gyon Technologies Capital Management LP bought a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $30,000. Rockefeller Capital Management L.P. increased its stake in Mohawk Industries by 143.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock valued at $31,000 after purchasing an additional 181 shares in the last quarter. WASHINGTON TRUST Co raised its holdings in Mohawk Industries by 156.8% during the second quarter. WASHINGTON TRUST Co now owns 339 shares of the company’s stock worth $35,000 after buying an additional 207 shares during the last quarter. Covestor Ltd lifted its stake in shares of Mohawk Industries by 191.0% in the first quarter. Covestor Ltd now owns 390 shares of the company’s stock valued at $49,000 after buying an additional 256 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Mohawk Industries by 21.9% during the first quarter. CWM LLC now owns 762 shares of the company’s stock valued at $76,000 after buying an additional 137 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $86.34, for a total transaction of $2,158,500.00. Following the sale, the chief executive officer now directly owns 14,200 shares of the company’s stock, valued at $1,226,028. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.20% of the stock is currently owned by insiders.

Mohawk Industries Stock Down 1.4 %

Mohawk Industries stock opened at $84.30 on Monday. The firm has a 50 day moving average price of $84.00 and a 200-day moving average price of $95.21. The company has a quick ratio of 0.94, a current ratio of 1.73 and a debt-to-equity ratio of 0.23. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $130.63. The company has a market capitalization of $5.37 billion, a P/E ratio of -9.83 and a beta of 1.27.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.07. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.74 billion. Mohawk Industries had a positive return on equity of 6.91% and a negative net margin of 4.88%. Mohawk Industries’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.34 earnings per share. As a group, equities analysts predict that Mohawk Industries, Inc. will post 9.09 EPS for the current year.

Analysts Set New Price Targets

MHK has been the topic of several recent research reports. Jefferies Financial Group dropped their price target on shares of Mohawk Industries from $118.00 to $93.00 in a research report on Thursday, October 12th. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Barclays lowered their price target on Mohawk Industries from $98.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, October 12th. Truist Financial cut their price objective on shares of Mohawk Industries from $130.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Finally, Wells Fargo & Company started coverage on shares of Mohawk Industries in a report on Tuesday, October 17th. They issued an “underweight” rating and a $85.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $103.13.

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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).