Rodgers Brothers Inc. Acquires Shares of 3,250 Mohawk Industries, Inc. (NYSE:MHK)

Rodgers Brothers Inc. acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,250 shares of the company’s stock, valued at approximately $425,000.

Several other institutional investors have also bought and sold shares of the business. Quarry LP raised its stake in shares of Mohawk Industries by 70.4% in the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after acquiring an additional 174 shares during the period. Quent Capital LLC raised its stake in shares of Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after acquiring an additional 106 shares during the period. Allworth Financial LP raised its stake in shares of Mohawk Industries by 88.1% in the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after acquiring an additional 244 shares during the period. Signaturefd LLC raised its stake in shares of Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after acquiring an additional 128 shares during the period. Finally, TFO Wealth Partners LLC raised its stake in shares of Mohawk Industries by 32,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after acquiring an additional 650 shares during the period. Institutional investors own 78.98% of the company’s stock.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the transaction, the insider now owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Mohawk Industries from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Raymond James raised shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price on the stock in a research note on Monday, June 10th. Loop Capital reduced their price target on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Royal Bank of Canada raised their price target on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Finally, Truist Financial reduced their price target on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $127.45.

Mohawk Industries Stock Up 19.5 %

NYSE MHK traded up $26.21 during trading on Friday, reaching $160.71. 3,404,515 shares of the company’s stock traded hands, compared to its average volume of 719,127. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of -24.57, a price-to-earnings-growth ratio of 1.28 and a beta of 1.38. The company’s 50 day simple moving average is $117.23 and its two-hundred day simple moving average is $115.59. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $162.87.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.24. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.76 EPS. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.51 EPS for the current fiscal year.

Mohawk Industries 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.