DekaBank Deutsche Girozentrale Increases Position in Mohawk Industries, Inc. (NYSE:MHK)

Posted by Defense World Staff on Oct 16th, 2023

DekaBank Deutsche Girozentrale lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 44.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,499 shares of the company’s stock after acquiring an additional 2,014 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Mohawk Industries were worth $674,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MHK. PNC Financial Services Group Inc. increased its position in shares of Mohawk Industries by 4.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,953 shares of the company’s stock worth $615,000 after acquiring an additional 224 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Mohawk Industries in the first quarter valued at about $1,043,000. MetLife Investment Management LLC increased its holdings in Mohawk Industries by 23.2% in the first quarter. MetLife Investment Management LLC now owns 14,929 shares of the company’s stock valued at $1,854,000 after buying an additional 2,809 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Mohawk Industries by 98.7% in the first quarter. Panagora Asset Management Inc. now owns 10,628 shares of the company’s stock valued at $1,320,000 after buying an additional 5,280 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Mohawk Industries by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,341 shares of the company’s stock valued at $912,000 after buying an additional 455 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MHK. Loop Capital boosted their price objective on Mohawk Industries from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, July 31st. StockNews.com began coverage on Mohawk Industries in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Jefferies Financial Group decreased their target price on Mohawk Industries from $118.00 to $93.00 in a research note on Thursday. Finally, Barclays decreased their target price on Mohawk Industries from $98.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Mohawk Industries presently has a consensus rating of “Hold” and a consensus target price of $105.83.

Check Out Our Latest Research Report on MHK

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $81.17 on Monday. 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 stock has a 50 day simple moving average of $93.02 and a 200-day simple moving average of $98.12. The company has a market cap of $5.17 billion, a PE ratio of -16.11 and a beta of 1.35. Mohawk Industries, Inc. has a 12-month low of $78.34 and a 12-month high of $130.63.

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 (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.11. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.95 billion. Mohawk Industries had a positive return on equity of 7.27% and a negative net margin of 2.82%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.41 earnings per share. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 9.38 EPS for the current year.

Insiders Place Their Bets

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 39,200 shares in the company, valued at $3,967,824. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mohawk Industries news, VP Rodney David Patton sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $106.76, for a total value of $277,576.00. Following the completion of the sale, the vice president now directly owns 14,487 shares in the company, valued at $1,546,632.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 39,200 shares of the company’s stock, valued at $3,967,824. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by insiders.

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).