Asset Management One Co. Ltd. Has $53,000 Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Asset Management One Co. Ltd. cut its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 97.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 502 shares of the company’s stock after selling 21,263 shares during the period. Asset Management One Co. Ltd.’s holdings in Mohawk Industries were worth $53,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kinneret Advisory LLC increased its position in shares of Mohawk Industries by 2.3% during the first quarter. Kinneret Advisory LLC now owns 3,451 shares of the company’s stock worth $429,000 after acquiring an additional 77 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Mohawk Industries by 3.3% during the first quarter. Captrust Financial Advisors now owns 2,708 shares of the company’s stock worth $336,000 after acquiring an additional 86 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Mohawk Industries by 5.5% during the fourth quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock worth $208,000 after acquiring an additional 105 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Mohawk Industries by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 23,105 shares of the company’s stock worth $2,384,000 after acquiring an additional 110 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Mohawk Industries by 2.1% during the fourth quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock worth $698,000 after acquiring an additional 136 shares in the last quarter. 78.98% of the stock is owned by institutional investors.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.20% of the stock is currently owned by corporate insiders.

Mohawk Industries Stock Down 3.8 %

Mohawk Industries stock opened at $113.17 on Monday. The company has a market capitalization of $7.21 billion, a P/E ratio of -16.35 and a beta of 1.34. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $119.18 and a 200-day moving average price of $101.42. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $131.19.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.10. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. Mohawk Industries’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 EPS. As a group, equities analysts predict that Mohawk Industries, Inc. will post 9.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Royal Bank of Canada upped their price objective on shares of Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and upped their price objective for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. Wells Fargo & Company reduced their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Finally, Truist Financial upped their price objective on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $117.56.

Mohawk Industries Company Profile

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, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.