Lakewood Asset Management LLC Has $1.82 Million Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Lakewood Asset Management LLC cut its stake in Mohawk Industries, Inc. (NYSE:MHK) by 7.6% in the third quarter, Holdings Channel.com reports. The firm owned 11,303 shares of the company’s stock after selling 926 shares during the quarter. Mohawk Industries makes up approximately 1.2% of Lakewood Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Lakewood Asset Management LLC’s holdings in Mohawk Industries were worth $1,816,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MHK. Rafferty Asset Management LLC boosted its stake in Mohawk Industries by 21.2% in the 4th quarter. Rafferty Asset Management LLC now owns 25,697 shares of the company’s stock worth $2,660,000 after purchasing an additional 4,488 shares during the period. Cibc World Markets Corp boosted its stake in Mohawk Industries by 24.8% in the 4th quarter. Cibc World Markets Corp now owns 11,855 shares of the company’s stock worth $1,227,000 after purchasing an additional 2,355 shares during the period. Schroder Investment Management Group boosted its stake in Mohawk Industries by 1.8% in the 4th quarter. Schroder Investment Management Group now owns 391,900 shares of the company’s stock worth $40,562,000 after purchasing an additional 7,022 shares during the period. Quadrature Capital Ltd lifted its position in Mohawk Industries by 1.0% during the 4th quarter. Quadrature Capital Ltd now owns 37,141 shares of the company’s stock worth $3,844,000 after buying an additional 350 shares in the last quarter. Finally, Invenomic Capital Management LP bought a new stake in Mohawk Industries during the 4th quarter worth about $5,906,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

MHK traded up $0.76 on Monday, reaching $155.20. The company had a trading volume of 754,354 shares, compared to its average volume of 701,579. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $164.05. The stock has a market cap of $9.91 billion, a P/E ratio of -23.80, a P/E/G ratio of 1.23 and a beta of 1.37. The company’s fifty day moving average is $152.96 and its 200 day moving average is $130.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the business earned $2.76 EPS. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, analysts predict that Mohawk Industries, Inc. will post 10 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on MHK. The Goldman Sachs Group boosted their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. Raymond James raised shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target on the stock in a research report on Monday, June 10th. Robert W. Baird boosted their price target on shares of Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Truist Financial boosted their price target on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.67.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the transaction, the insider now owns 119,369 shares in the company, valued at approximately $18,042,624.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock worth $673,387 in the last quarter. 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.