Dimensional Fund Advisors LP Raises Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Dimensional Fund Advisors LP lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHKFree Report) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,459,303 shares of the company’s stock after acquiring an additional 317,278 shares during the quarter. Dimensional Fund Advisors LP owned 3.86% of Mohawk Industries worth $254,543,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MHK. Truist Financial Corp increased its position in shares of Mohawk Industries by 72.1% in the 4th quarter. Truist Financial Corp now owns 294,894 shares of the company’s stock valued at $30,522,000 after purchasing an additional 123,508 shares during the last quarter. Caxton Associates LP acquired a new position in shares of Mohawk Industries during the 3rd quarter worth about $1,170,000. Northern Trust Corp raised its position in shares of Mohawk Industries by 4.0% during the 3rd quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock worth $51,275,000 after acquiring an additional 23,070 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Mohawk Industries by 159.2% in the fourth quarter. Russell Investments Group Ltd. now owns 147,108 shares of the company’s stock valued at $15,226,000 after purchasing an additional 90,359 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Mohawk Industries during the third quarter worth approximately $397,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mohawk Industries 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 sale, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.10% of the stock is owned by corporate insiders.

Mohawk Industries Price Performance

MHK stock opened at $121.07 on Tuesday. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $131.19. The firm has a 50 day moving average of $119.21 and a 200-day moving average of $106.28. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHKGet Free Report) last posted its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS. As a group, research analysts expect that Mohawk Industries, Inc. will post 9.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays dropped their target price on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. TheStreet upgraded Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. Loop Capital reduced their price objective on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, April 29th. 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 upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and increased their target price for the stock from $98.00 to $152.00 in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $121.33.

View Our Latest Research Report on MHK

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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