Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by Allspring Global Investments Holdings LLC

Posted by Defense World Staff on Oct 4th, 2023

Allspring Global Investments Holdings LLC increased its position in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 15.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,263 shares of the company’s stock after purchasing an additional 18,545 shares during the period. Allspring Global Investments Holdings LLC owned 0.21% of Mohawk Industries worth $13,954,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Gyon Technologies Capital Management LP acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at $30,000. Rockefeller Capital Management L.P. lifted its stake in Mohawk Industries by 143.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock valued at $31,000 after purchasing an additional 181 shares during the last quarter. Covestor Ltd lifted its stake in Mohawk Industries by 191.0% during the first quarter. Covestor Ltd now owns 390 shares of the company’s stock valued at $49,000 after purchasing an additional 256 shares during the last quarter. CWM LLC grew its position in Mohawk Industries by 21.9% in the first quarter. CWM LLC now owns 762 shares of the company’s stock worth $76,000 after buying an additional 137 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Mohawk Industries in the first quarter worth approximately $95,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com started coverage on Mohawk Industries in a report on Thursday, August 17th. They issued a “hold” rating on the stock. 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, August 1st. Jefferies Financial Group lifted their target price 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. Finally, Loop Capital upped their price target 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.71.

Read Our Latest Research Report on MHK

Insider Activity

In related news, CEO Jeffrey S. Lorberbaum sold 10,000 shares of Mohawk Industries stock in a transaction on Monday, August 14th. The shares were sold at an average price of $101.22, for a total value of $1,012,200.00. Following the transaction, the chief executive officer now owns 39,200 shares in the company, valued at approximately $3,967,824. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jeffrey S. Lorberbaum sold 10,000 shares of Mohawk Industries stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $101.22, for a total value of $1,012,200.00. Following the transaction, the chief executive officer now directly owns 39,200 shares in the company, valued at $3,967,824. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $277,576.00. Following the sale, the vice president now owns 14,487 shares of the company’s stock, valued at approximately $1,546,632.12. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $81.51 on Wednesday. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of -16.17 and a beta of 1.35. Mohawk Industries, Inc. has a 1 year low of $81.23 and a 1 year 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. The business has a fifty day simple moving average of $97.30 and a 200 day simple moving average of $98.91.

Mohawk Industries (NYSE:MHK – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.76 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company earned $4.41 EPS. The firm’s revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts predict 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).