PFG Advisors Invests $238,000 in Mohawk Industries, Inc. (NYSE:MHK)

PFG Advisors acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,997 shares of the company’s stock, valued at approximately $238,000.

Several other hedge funds have also made changes to their positions in MHK. Hantz Financial Services Inc. raised its position in Mohawk Industries by 7.5% in the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. increased its position in shares of Mohawk Industries by 2.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after acquiring an additional 121 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Mohawk Industries by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock worth $819,000 after acquiring an additional 130 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Mohawk Industries by 11.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,518 shares of the company’s stock worth $244,000 after acquiring an additional 161 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Mohawk Industries by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 7,816 shares of the company’s stock worth $931,000 after acquiring an additional 190 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the topic of a number of analyst reports. Barclays dropped their target price on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Robert W. Baird dropped their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 10th. Truist Financial decreased their price target on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Loop Capital decreased their price target on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $114.39 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $120.51 and a two-hundred day moving average of $134.85. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29. The company has a market cap of $7.16 billion, a P/E ratio of 14.07, a PEG ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data 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 8.04% and a net margin of 4.78%. As a group, analysts anticipate that Mohawk Industries, Inc. will post 9.8 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.