Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Brandes Investment Partners LP

Brandes Investment Partners LP trimmed its position in Mohawk Industries, Inc. (NYSE:MHK) by 40.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 552,087 shares of the company’s stock after selling 370,518 shares during the period. Brandes Investment Partners LP’s holdings in Mohawk Industries were worth $65,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in MHK. Principal Financial Group Inc. increased its holdings in shares of Mohawk Industries by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 61,724 shares of the company’s stock valued at $9,918,000 after acquiring an additional 2,601 shares during the last quarter. Versor Investments LP bought a new stake in shares of Mohawk Industries in the 3rd quarter valued at approximately $273,000. Apollon Wealth Management LLC bought a new stake in shares of Mohawk Industries in the 3rd quarter valued at approximately $242,000. Aigen Investment Management LP bought a new stake in shares of Mohawk Industries in the 3rd quarter valued at approximately $491,000. Finally, MQS Management LLC bought a new stake in shares of Mohawk Industries in the 3rd quarter valued at approximately $341,000. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Trading Up 3.1 %

Shares of NYSE MHK opened at $114.39 on Friday. Mohawk Industries, Inc. has a 12 month low of $104.88 and a 12 month high of $164.29. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $120.57 and a 200-day simple moving average of $135.26.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the sale, the insider now directly owns 104,084 shares in the company, valued at approximately $13,126,033.24. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MHK shares. Raymond James reiterated a “strong-buy” rating and issued a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Truist Financial lowered their price objective on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group lowered their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Robert W. Baird lowered their price objective on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Finally, Evercore ISI lowered their price objective on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $146.92.

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.