Raymond James Financial Inc. Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Raymond James Financial Inc. acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, HoldingsChannel reports. The firm acquired 41,054 shares of the company’s stock, valued at approximately $4,891,000.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after acquiring an additional 74,123 shares during the last quarter. FMR LLC grew its holdings in shares of Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the period. State Street Corp increased its position in shares of Mohawk Industries by 1.3% during the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after purchasing an additional 23,016 shares during the last quarter. Truist Financial Corp raised its holdings in Mohawk Industries by 7.4% in the 4th quarter. Truist Financial Corp now owns 374,456 shares of the company’s stock valued at $44,609,000 after buying an additional 25,864 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Mohawk Industries by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 316,805 shares of the company’s stock valued at $37,741,000 after buying an additional 16,483 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MHK. Bank of America lowered their price objective 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, February 10th. StockNews.com lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Loop Capital cut their price objective on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group lowered their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Barclays cut their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

Insider Buying and Selling at Mohawk Industries

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

Mohawk Industries Stock Down 0.4 %

Shares of NYSE MHK opened at $116.05 on Wednesday. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29. The firm has a 50-day moving average price of $119.81 and a 200 day moving average price of $132.88. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 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%. Equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal 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.