Mohawk Industries, Inc. (NYSE:MHK) Position Decreased by Lafayette Investments Inc.

Lafayette Investments Inc. decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,008 shares of the company’s stock after selling 117 shares during the period. Lafayette Investments Inc.’s holdings in Mohawk Industries were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Caxton Associates LP bought a new position in shares of Mohawk Industries during the 3rd quarter valued at about $1,170,000. Northern Trust Corp boosted its holdings in shares of Mohawk Industries by 4.0% in the third quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock worth $51,275,000 after buying an additional 23,070 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Mohawk Industries in the third quarter worth about $397,000. JPMorgan Chase & Co. boosted its holdings in shares of Mohawk Industries by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after buying an additional 103,813 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Mohawk Industries by 35.4% in the third quarter. Rafferty Asset Management LLC now owns 21,209 shares of the company’s stock worth $1,820,000 after buying an additional 5,547 shares during the period. Institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MHK shares. The Goldman Sachs Group increased their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Truist Financial increased their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Royal Bank of Canada increased their price target on shares of Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Wells Fargo & Company reduced their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Mohawk Industries has an average rating of “Hold” and a consensus target price of $117.56.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries Stock Performance

MHK traded up $1.28 during trading on Friday, reaching $109.36. 51,521 shares of the company’s stock were exchanged, compared to its average volume of 705,868. The business has a 50 day moving average price of $119.30 and a 200 day moving average price of $101.86. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.10. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $1.32 earnings per share. As a group, equities research analysts predict that Mohawk Industries, Inc. will post 9.56 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.