OLD National Bancorp IN Lowers Position in Mohawk Industries, Inc. (NYSE:MHK)

OLD National Bancorp IN lessened its position in Mohawk Industries, Inc. (NYSE:MHK) by 41.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,956 shares of the company’s stock after selling 2,749 shares during the quarter. OLD National Bancorp IN’s holdings in Mohawk Industries were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after purchasing an additional 244 shares during the period. Huntington National Bank lifted its stake in shares of Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares during the period. Signaturefd LLC raised its stake in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares during the last quarter. Byrne Asset Management LLC purchased a new position in Mohawk Industries during the fourth quarter valued at $101,000. Finally, Federated Hermes Inc. raised its stake in Mohawk Industries by 1,641.0% during the fourth quarter. Federated Hermes Inc. now owns 1,828 shares of the company’s stock valued at $189,000 after buying an additional 1,723 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MHK. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Barclays lifted their price objective on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Truist Financial boosted their price target on Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Royal Bank of Canada boosted their price target on Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, February 12th. Finally, TheStreet upgraded Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Hold” and a consensus price target of $118.75.

Mohawk Industries Trading Down 1.8 %

NYSE:MHK opened at $111.40 on Thursday. The stock has a 50-day simple moving average of $119.09 and a two-hundred day simple moving average of $102.74. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $131.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. Mohawk Industries’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.56 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

About Mohawk Industries

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.