SG Americas Securities LLC Has $2.02 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

Posted by Defense World Staff on Sep 22nd, 2023

SG Americas Securities LLC lessened its position in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 32.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 19,541 shares of the company’s stock after selling 9,289 shares during the quarter. SG Americas Securities LLC’s holdings in Mohawk Industries were worth $2,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Mohawk Industries by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,033,272 shares of the company’s stock valued at $550,173,000 after purchasing an additional 112,111 shares during the period. BlackRock Inc. increased its position in Mohawk Industries by 0.8% during the 1st quarter. BlackRock Inc. now owns 4,362,231 shares of the company’s stock valued at $541,788,000 after purchasing an additional 35,043 shares during the period. JPMorgan Chase & Co. increased its position in Mohawk Industries by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,242,650 shares of the company’s stock valued at $229,243,000 after purchasing an additional 25,255 shares during the period. Pzena Investment Management LLC increased its position in Mohawk Industries by 0.3% during the 1st quarter. Pzena Investment Management LLC now owns 2,028,127 shares of the company’s stock valued at $203,259,000 after purchasing an additional 6,726 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Mohawk Industries by 0.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,744,679 shares of the company’s stock valued at $178,341,000 after purchasing an additional 4,710 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 10,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $101.22, for a total transaction of $1,012,200.00. Following the transaction, the chief executive officer now directly owns 39,200 shares in the company, valued at approximately $3,967,824. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jeffrey S. Lorberbaum sold 10,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $101.22, for a total transaction of $1,012,200.00. Following the completion of the sale, the chief executive officer now directly owns 39,200 shares of the company’s stock, valued at approximately $3,967,824. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Rodney David Patton sold 2,600 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $106.76, for a total value of $277,576.00. Following the sale, the vice president now directly owns 14,487 shares of the company’s stock, valued at $1,546,632.12. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Mohawk Industries from $115.00 to $118.00 and gave the stock a “hold” rating in a research report on Thursday, July 13th. 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 report on Tuesday, August 1st. StockNews.com initiated coverage on shares of Mohawk Industries in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Loop Capital increased their target price on Mohawk Industries from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Mohawk Industries presently has an average rating of “Hold” and a consensus target price of $114.71.

Check Out Our Latest Analysis on MHK

Mohawk Industries Price Performance

Shares of MHK opened at $89.28 on Friday. Mohawk Industries, Inc. has a 12-month low of $87.01 and a 12-month high of $130.63. The business’s fifty day moving average is $101.61 and its 200 day moving average is $99.64. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 0.25. The stock has a market cap of $5.69 billion, a P/E ratio of -17.71 and a beta of 1.33.

Mohawk Industries (NYSE:MHK – Get Free Report) last issued its quarterly earnings data 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. Mohawk Industries had a positive return on equity of 7.27% and a negative net margin of 2.82%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the business earned $4.41 EPS. The business’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.38 earnings per share for the current fiscal year.

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).