Rafferty Asset Management LLC Increases Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Rafferty Asset Management LLC increased its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,442 shares of the company’s stock after buying an additional 3,528 shares during the period. Rafferty Asset Management LLC’s holdings in Mohawk Industries were worth $2,554,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries during the fourth quarter worth $41,000. R Squared Ltd purchased a new position in Mohawk Industries during the fourth quarter valued at $66,000. Huntington National Bank lifted its holdings in Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Mohawk Industries by 233.0% during the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $85,000 after purchasing an additional 501 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in Mohawk Industries during the fourth quarter valued at $88,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Robert W. Baird decreased their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Raymond James reaffirmed a “strong-buy” rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Finally, Bank of America decreased their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Mohawk Industries currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Mohawk Industries Stock Performance

NYSE:MHK opened at $107.57 on Tuesday. The company’s 50-day moving average price is $108.00 and its 200-day moving average price is $119.77. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The company has a market cap of $6.73 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business earned $1.86 earnings per share. Mohawk Industries’s revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share 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.