Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by DekaBank Deutsche Girozentrale

Posted by Defense World Staff on Oct 16th, 2023

DekaBank Deutsche Girozentrale raised its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 44.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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.

Several other institutional investors and hedge funds have also made changes to their positions in MHK. Shapiro Capital Management LLC acquired a new position in shares of Mohawk Industries during the 1st quarter worth about $96,936,000. Norges Bank acquired a new position in shares of Mohawk Industries during the 4th quarter worth about $49,448,000. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of Mohawk Industries during the 1st quarter worth about $38,084,000. Ariel Investments LLC boosted its position in shares of Mohawk Industries by 26.8% during the 1st quarter. Ariel Investments LLC now owns 1,723,343 shares of the company’s stock worth $214,040,000 after acquiring an additional 364,085 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Mohawk Industries by 26.6% in the 1st quarter. Invesco Ltd. now owns 1,039,949 shares of the company’s stock valued at $129,161,000 after purchasing an additional 218,505 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

NYSE MHK opened at $81.17 on Monday. Mohawk Industries, Inc. has a 1-year low of $78.34 and a 1-year high of $130.63. The company has a market capitalization of $5.17 billion, a P/E ratio of -16.11 and a beta of 1.35. The business has a 50 day moving average price of $93.02 and a 200 day moving average price of $98.12. 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 (NYSE:MHK – Get Free Report) last released 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 firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $4.41 EPS. Mohawk Industries’s quarterly revenue was down 6.4% on a year-over-year basis. Sell-side analysts expect that Mohawk Industries, Inc. will post 9.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Loop Capital upped their target price on Mohawk Industries from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 31st. StockNews.com started coverage on Mohawk Industries in a research note on Thursday, October 5th. They set a “hold” rating for the company. Barclays cut 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. Finally, Jefferies Financial Group cut their target price on Mohawk Industries from $118.00 to $93.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.83.

Check Out Our Latest Stock Analysis on Mohawk Industries

Insiders Place Their Bets

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 completion of the transaction, the chief executive officer now owns 39,200 shares of the company’s stock, valued at $3,967,824. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mohawk Industries news, VP Rodney David Patton sold 2,600 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $106.76, for a total transaction of $277,576.00. Following the completion of the transaction, the vice president now 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 Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,012,200.00. Following the transaction, the chief executive officer now directly owns 39,200 shares of the company’s stock, valued at approximately $3,967,824. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by company insiders.

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).