Yousif Capital Management LLC Lowers Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Yousif Capital Management LLC lowered its stake in Mohawk Industries, Inc. (NYSE:MHK) by 5.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,793 shares of the company’s stock after selling 591 shares during the period. Yousif Capital Management LLC’s holdings in Mohawk Industries were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new stake in shares of Mohawk Industries in the third quarter worth $1,170,000. Northern Trust Corp grew its position in Mohawk Industries by 4.0% during the 3rd quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock valued at $51,275,000 after purchasing an additional 23,070 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Mohawk Industries during the 3rd quarter valued at about $397,000. JPMorgan Chase & Co. increased its stake in Mohawk Industries by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock valued at $208,972,000 after purchasing an additional 103,813 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in Mohawk Industries by 35.4% in the third quarter. Rafferty Asset Management LLC now owns 21,209 shares of the company’s stock worth $1,820,000 after buying an additional 5,547 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MHK shares. Wells Fargo & Company decreased their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. Truist Financial upped their price target on Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a report on Monday, April 29th. TheStreet upgraded Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and upped their target price for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Finally, Barclays reduced their price target on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries has an average rating of “Hold” and a consensus target price of $121.33.

Mohawk Industries Stock Up 0.6 %

Shares of MHK stock opened at $116.37 on Friday. The company has a 50 day simple moving average of $119.03 and a two-hundred day simple moving average of $104.27. The stock has a market cap of $7.43 billion, a P/E ratio of -17.79, a P/E/G ratio of 1.15 and a beta of 1.35. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $131.19. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. Mohawk Industries’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 EPS. On average, research analysts expect that Mohawk Industries, Inc. will post 9.54 earnings per share for the current year.

Insider Activity

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