KBC Group NV Has $2.84 Million Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Posted by Defense World Staff on Aug 3rd, 2023

KBC Group NV cut its stake in Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 79.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,287 shares of the company’s stock after selling 111,122 shares during the period. KBC Group NV’s holdings in Mohawk Industries were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. boosted its stake in shares of Mohawk Industries by 29.6% during the 4th quarter. Pinebridge Investments L.P. now owns 2,922 shares of the company’s stock worth $299,000 after buying an additional 668 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Mohawk Industries by 2.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,731 shares of the company’s stock worth $374,000 after buying an additional 103 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Mohawk Industries by 1,508.1% during the 4th quarter. SG Americas Securities LLC now owns 18,332 shares of the company’s stock worth $1,874,000 after buying an additional 17,192 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of Mohawk Industries by 7.7% during the 4th quarter. OLD National Bancorp IN now owns 5,858 shares of the company’s stock worth $599,000 after buying an additional 418 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Mohawk Industries by 2.5% during the 4th quarter. TD Asset Management Inc now owns 13,345 shares of the company’s stock worth $1,364,000 after buying an additional 327 shares during the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $106.76, for a total transaction of $277,576.00. Following the transaction, the vice president now directly owns 14,487 shares of the company’s stock, valued at $1,546,632.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Mohawk Industries from $105.00 to $98.00 and set an “underweight” rating for the company in a research note on Tuesday. Loop Capital raised their target price on shares of Mohawk Industries from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group raised their target price on shares of Mohawk Industries from $115.00 to $118.00 and gave the company a “hold” rating in a research note on Thursday, July 13th. StockNews.com began coverage on shares of Mohawk Industries in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Bank of America cut their target price on shares of Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating for the company in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $119.38.

Get Our Latest Analysis on Mohawk Industries

Mohawk Industries Price Performance

Mohawk Industries stock opened at $106.74 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.78 and a quick ratio of 0.98. Mohawk Industries, Inc. has a twelve month low of $87.01 and a twelve month high of $130.63. The company’s 50-day moving average price is $103.34 and its two-hundred day moving average price is $103.74.

Mohawk Industries (NYSE:MHK – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.11. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Mohawk Industries had a negative net margin of 2.82% and a positive return on equity of 7.27%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.41 EPS. On average, equities research analysts predict that Mohawk Industries, Inc. will post 9.43 EPS for the current year.

About Mohawk Industries

(Free Report)

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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).