Wilsey Asset Management Inc. Purchases 8,351 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Wilsey Asset Management Inc. grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 198,514 shares of the company’s stock after buying an additional 8,351 shares during the quarter. Mohawk Industries accounts for approximately 4.4% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 13th largest holding. Wilsey Asset Management Inc.’s holdings in Mohawk Industries were worth $23,649,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MHK. Entropy Technologies LP acquired a new position in Mohawk Industries during the 4th quarter worth about $703,000. Empowered Funds LLC raised its stake in shares of Mohawk Industries by 49.6% in the fourth quarter. Empowered Funds LLC now owns 3,405 shares of the company’s stock worth $406,000 after acquiring an additional 1,129 shares during the last quarter. Apollon Wealth Management LLC lifted its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Apollon Wealth Management LLC now owns 2,575 shares of the company’s stock worth $307,000 after purchasing an additional 1,069 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Mohawk Industries by 35.2% in the fourth quarter. State of Alaska Department of Revenue now owns 22,473 shares of the company’s stock valued at $2,676,000 after purchasing an additional 5,855 shares in the last quarter. Finally, Choreo LLC bought a new position in Mohawk Industries in the 4th quarter worth approximately $258,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the sale, the insider now directly owns 2,453 shares in the company, valued at $332,332.44. This trade represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 19,078 shares of company stock worth $2,474,347. Company insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Wednesday, January 8th. Barclays decreased their price target on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company cut their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the company from $151.00 to $161.00 in a research note on Friday, January 10th. Finally, Truist Financial dropped their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $154.62.

Mohawk Industries Price Performance

MHK opened at $120.46 on Monday. The stock has a market cap of $7.60 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.60 and a beta of 1.41. Mohawk Industries, Inc. has a 12 month low of $101.83 and a 12 month high of $164.29. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $124.30 and a 200 day simple moving average of $140.65.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. On average, research analysts expect that Mohawk Industries, Inc. will post 10.71 EPS for the current year.

About Mohawk Industries

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.