Cibc World Markets Corp Buys 2,355 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Cibc World Markets Corp boosted its stake in shares of Mohawk Industries, Inc. (NYSE:MHKFree Report) by 24.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,855 shares of the company’s stock after buying an additional 2,355 shares during the quarter. Cibc World Markets Corp’s holdings in Mohawk Industries were worth $1,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MHK. Truist Financial Corp increased its position in Mohawk Industries by 72.1% during the 4th quarter. Truist Financial Corp now owns 294,894 shares of the company’s stock valued at $30,522,000 after purchasing an additional 123,508 shares during the period. Caxton Associates LP purchased a new position in Mohawk Industries during the 3rd quarter valued at about $1,170,000. ARGA Investment Management LP increased its position in Mohawk Industries by 50.8% during the 4th quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after purchasing an additional 168,401 shares during the period. Northern Trust Corp increased 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 period. Finally, Ontario Teachers Pension Plan Board purchased a new position in Mohawk Industries during the 4th quarter valued at about $992,000. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

MHK stock opened at $118.03 on Tuesday. The firm has a 50 day moving average of $117.28 and a 200 day moving average of $111.31. 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, Inc. has a 52 week low of $76.02 and a 52 week high of $131.19.

Mohawk Industries (NYSE:MHKGet Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. Mohawk Industries’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the business earned $1.75 EPS. Equities analysts predict that Mohawk Industries, Inc. will post 9.68 EPS for the current fiscal year.

Analysts Set New Price Targets

MHK has been the topic of a number of research reports. TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Royal Bank of Canada lifted their price objective on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Finally, Truist Financial lifted their price objective on shares of Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.20.

Read Our Latest Stock Report on Mohawk Industries

About Mohawk Industries

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

See Also

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

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