Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Metis Global Partners LLC

Posted by on Aug 13th, 2023

Metis Global Partners LLC lowered its position in Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 20.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,382 shares of the company’s stock after selling 873 shares during the quarter. Metis Global Partners LLC’s holdings in Mohawk Industries were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Mohawk Industries by 4.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,953 shares of the company’s stock worth $615,000 after purchasing an additional 224 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Mohawk Industries in the 1st quarter worth about $1,043,000. MetLife Investment Management LLC increased its position in shares of Mohawk Industries by 23.2% in the 1st quarter. MetLife Investment Management LLC now owns 14,929 shares of the company’s stock worth $1,854,000 after purchasing an additional 2,809 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Mohawk Industries by 98.7% in the 1st quarter. Panagora Asset Management Inc. now owns 10,628 shares of the company’s stock worth $1,320,000 after purchasing an additional 5,280 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Mohawk Industries by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,341 shares of the company’s stock worth $912,000 after purchasing an additional 455 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Mohawk Industries Price Performance

NYSE MHK opened at $102.48 on Friday. The company has a 50-day moving average price of $104.73 and a two-hundred day moving average price of $103.24. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of -20.33 and a beta of 1.32. Mohawk Industries, Inc. has a 52 week low of $87.01 and a 52 week high of $130.63. The company has a current ratio of 1.78, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Mohawk Industries (NYSE:MHK – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.11. Mohawk Industries had a negative net margin of 2.82% and a positive return on equity of 7.27%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the business posted $4.41 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Analysts forecast that Mohawk Industries, Inc. will post 9.36 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MHK. Barclays dropped their target price on shares of Mohawk Industries from $105.00 to $98.00 and set an “underweight” rating for the company in a research report on Tuesday, August 1st. Bank of America lowered their price objective on shares of Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating for the company in a research report on Wednesday, April 19th. Jefferies Financial Group boosted their price objective on shares of Mohawk Industries from $115.00 to $118.00 and gave the company a “hold” rating in a research report on Thursday, July 13th. Loop Capital boosted their price objective on shares of Mohawk Industries from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, StockNews.com started coverage on shares of Mohawk Industries in a research report on Thursday, May 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $114.71.

Get Our Latest Report on Mohawk Industries

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 2,600 shares of the 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 completion of the sale, the vice president now directly owns 14,487 shares of the company’s stock, valued at $1,546,632.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 17.20% of the company’s stock.

Mohawk Industries Company Profile

(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).

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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