Mohawk Industries, Inc. (NYSE:MHK) Shares Bought by Townsend & Associates Inc

Townsend & Associates Inc lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 104.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 256,266 shares of the company’s stock after acquiring an additional 131,076 shares during the quarter. Mohawk Industries makes up about 3.1% of Townsend & Associates Inc’s portfolio, making the stock its 9th biggest holding. Townsend & Associates Inc’s holdings in Mohawk Industries were worth $25,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MHK. Charles Schwab Investment Management Inc. raised its position in shares of Mohawk Industries by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 532,652 shares of the company’s stock worth $55,129,000 after purchasing an additional 22,616 shares during the period. River Global Investors LLP raised its holdings in Mohawk Industries by 18.5% during the 4th quarter. River Global Investors LLP now owns 22,290 shares of the company’s stock worth $2,307,000 after buying an additional 3,476 shares during the period. National Bank of Canada FI lifted its stake in Mohawk Industries by 996.6% during the fourth quarter. National Bank of Canada FI now owns 126,927 shares of the company’s stock valued at $13,363,000 after buying an additional 115,352 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Mohawk Industries by 7.3% in the fourth quarter. M&T Bank Corp now owns 2,718 shares of the company’s stock worth $281,000 after buying an additional 184 shares during the period. Finally, Natixis Advisors L.P. increased its position in shares of Mohawk Industries by 60.2% in the fourth quarter. Natixis Advisors L.P. now owns 64,607 shares of the company’s stock worth $6,686,000 after acquiring an additional 24,274 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Up 0.3 %

MHK stock traded up $0.38 during trading hours on Thursday, hitting $118.60. The company’s stock had a trading volume of 174,727 shares, compared to its average volume of 695,946. The company has a market capitalization of $7.57 billion, a PE ratio of -18.09, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35. The stock has a 50 day moving average price of $119.22 and a two-hundred day moving average price of $105.22. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $131.19.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The business’s quarterly revenue was down 4.5% on a year-over-year basis. On average, equities research analysts expect that Mohawk Industries, Inc. will post 9.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

MHK has been the subject of a number of recent analyst reports. Loop Capital decreased their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Truist Financial lifted their price target on Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a report on Monday, April 29th. Royal Bank of Canada increased their price objective on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. The Goldman Sachs Group upped their target price on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $121.33.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 17.10% of the stock is owned by company insiders.

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.