NuWave Investment Management LLC Purchases 1,436 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Posted by on Jun 23rd, 2022

NuWave Investment Management LLC grew its position in Mohawk Industries, Inc. (NYSE:MHK – Get Rating) by 197.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,165 shares of the company’s stock after acquiring an additional 1,436 shares during the period. NuWave Investment Management LLC’s holdings in Mohawk Industries were worth $269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. DNB Asset Management AS bought a new position in shares of Mohawk Industries in the 1st quarter valued at about $1,445,000. Walleye Capital LLC bought a new position in shares of Mohawk Industries in the 4th quarter valued at about $3,439,000. Quent Capital LLC bought a new position in shares of Mohawk Industries in the 4th quarter valued at about $77,000. Weik Capital Management grew its position in shares of Mohawk Industries by 0.5% in the 4th quarter. Weik Capital Management now owns 29,300 shares of the company’s stock valued at $5,338,000 after acquiring an additional 157 shares during the period. Finally, Guardian Wealth Management Inc. bought a new position in shares of Mohawk Industries in the 4th quarter valued at about $853,000. 77.28% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Mohawk Industries from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, March 30th. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $125.00 to $150.00 in a research note on Monday, May 2nd. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group cut their target price on shares of Mohawk Industries from $190.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. Finally, Raymond James lifted their price objective on shares of Mohawk Industries from $190.00 to $210.00 in a research note on Monday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Mohawk Industries has a consensus rating of “Hold” and a consensus price target of $169.85.

MHK stock opened at $122.53 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.13. Mohawk Industries, Inc. has a 12 month low of $114.96 and a 12 month high of $211.74. The firm has a market cap of $7.79 billion, a P/E ratio of 7.99, a P/E/G ratio of 3.18 and a beta of 1.29. The company’s 50-day moving average price is $134.81 and its two-hundred day moving average price is $146.59.

Mohawk Industries (NYSE:MHK – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The company reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.89. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.85 billion. Mohawk Industries had a net margin of 9.02% and a return on equity of 12.00%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.49 EPS. Equities analysts predict that Mohawk Industries, Inc. will post 15.52 EPS for the current year.

Mohawk Industries Profile (Get Rating)

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces 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).

Further Reading

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

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