Patten & Patten Inc. TN Cuts Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Patten & Patten Inc. TN reduced its position in shares of Mohawk Industries, Inc. (NYSE:MHKFree Report) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 5,560 shares of the company’s stock after selling 204 shares during the period. Patten & Patten Inc. TN’s holdings in Mohawk Industries were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Gyon Technologies Capital Management LP acquired a new position in Mohawk Industries during the fourth quarter worth about $30,000. Rockefeller Capital Management L.P. grew its position in Mohawk Industries by 143.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock worth $31,000 after buying an additional 181 shares during the period. Natixis acquired a new position in Mohawk Industries during the second quarter worth about $40,000. UniSuper Management Pty Ltd acquired a new position in Mohawk Industries during the second quarter worth about $41,000. Finally, Huntington National Bank grew its position in Mohawk Industries by 36.0% during the third quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after buying an additional 143 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Trading Down 2.6 %

NYSE:MHK opened at $125.13 on Wednesday. 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, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The firm’s 50 day moving average is $116.36 and its two-hundred day moving average is $99.57.

Mohawk Industries (NYSE:MHKGet Free Report) last posted its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.10. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm posted $1.32 earnings per share. Mohawk Industries’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Mohawk Industries, Inc. will post 9.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their target price 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. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and increased their price target for the company from $98.00 to $152.00 in a research report on Monday, February 12th. Finally, Truist Financial increased their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Mohawk Industries has a consensus rating of “Hold” and an average price target of $117.56.

Check Out Our Latest Analysis on Mohawk Industries

Insider Activity

In other news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The shares were 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 approximately $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.20% of the company’s stock.

About Mohawk Industries

(Free Report)

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.

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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