Entropy Technologies LP Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

Entropy Technologies LP purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 5,899 shares of the company’s stock, valued at approximately $703,000.

Several other hedge funds have also recently modified their holdings of MHK. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries during the third quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB bought a new stake in Mohawk Industries during the 3rd quarter valued at $55,000. Blue Trust Inc. increased its holdings in shares of Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after acquiring an additional 167 shares during the period. True Wealth Design LLC bought a new position in shares of Mohawk Industries in the 3rd quarter worth $61,000. Finally, Versant Capital Management Inc lifted its stake in shares of Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

MHK has been the topic of several analyst reports. Evercore ISI cut their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday. Truist Financial cut their price objective on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America decreased their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada cut their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Finally, StockNews.com lowered Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.29.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the transaction, the insider now owns 2,453 shares in the company, valued at approximately $332,332.44. This trade represents a 44.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 19,078 shares of company stock worth $2,474,347 over the last three months. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Up 1.6 %

Shares of NYSE:MHK opened at $119.32 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52-week low of $104.88 and a 52-week high of $164.29. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.60 and a beta of 1.41. The business has a 50-day moving average price of $123.61 and a 200-day moving average price of $140.24.

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

Mohawk Industries Company 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.