abrdn plc raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK – Get Rating) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,581 shares of the company’s stock after acquiring an additional 898 shares during the period. abrdn plc’s holdings in Mohawk Industries were worth $1,388,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of MHK. Kinneret Advisory LLC grew its holdings in shares of Mohawk Industries by 2.3% in the first quarter. Kinneret Advisory LLC now owns 3,451 shares of the company’s stock worth $429,000 after purchasing an additional 77 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Mohawk Industries by 3.3% in the first quarter. Captrust Financial Advisors now owns 2,708 shares of the company’s stock worth $336,000 after purchasing an additional 86 shares during the last quarter. Utah Retirement Systems grew its holdings in shares of Mohawk Industries by 1.1% in the third quarter. Utah Retirement Systems now owns 9,455 shares of the company’s stock worth $862,000 after purchasing an additional 100 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Mohawk Industries by 3.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,628 shares of the company’s stock worth $371,000 after purchasing an additional 104 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Mohawk Industries by 0.8% in the third quarter. MetLife Investment Management LLC now owns 13,993 shares of the company’s stock worth $1,276,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 75.85% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on MHK shares. Bank of America cut their price target on shares of Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating on the stock in a report on Wednesday, April 19th. StockNews.com assumed coverage on shares of Mohawk Industries in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Barclays increased their target price on shares of Mohawk Industries from $83.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, February 13th. Loop Capital upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, April 11th. Finally, Credit Suisse Group dropped their target price on shares of Mohawk Industries from $109.00 to $103.00 in a report on Monday, March 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.08.
Mohawk Industries Stock Down 1.7 %
Mohawk Industries (NYSE:MHK – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.28 by $0.47. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.74 billion. Mohawk Industries had a negative net margin of 1.21% and a positive return on equity of 8.47%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.78 earnings per share. As a group, research analysts forecast that Mohawk Industries, Inc. will post 9.48 earnings per share for the current year.
Insider Activity at Mohawk Industries
In related news, insider Suzanne L. Helen sold 4,250 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $103.23, for a total value of $438,727.50. Following the completion of the transaction, the insider now directly owns 13,453 shares of the company’s stock, valued at approximately $1,388,753.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.20% of the stock is currently owned by insiders.
Mohawk Industries Company Profile
Mohawk Industries, Inc engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment manufactures ceramic, porcelain, and natural stone tile products used for wall and floor applications.
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