Arrowstreet Capital Limited Partnership Purchases 140,647 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Arrowstreet Capital Limited Partnership boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 72.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 335,176 shares of the company’s stock after acquiring an additional 140,647 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Mohawk Industries were worth $39,930,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MHK. Heartland Advisors Inc. grew its stake in shares of Mohawk Industries by 4.3% in the fourth quarter. Heartland Advisors Inc. now owns 288,401 shares of the company’s stock worth $34,357,000 after purchasing an additional 11,964 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Mohawk Industries by 22.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 1,707 shares of the company’s stock worth $203,000 after buying an additional 314 shares during the period. Norges Bank bought a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $61,171,000. UniSuper Management Pty Ltd increased its stake in shares of Mohawk Industries by 43.9% during the fourth quarter. UniSuper Management Pty Ltd now owns 12,393 shares of the company’s stock valued at $1,476,000 after buying an additional 3,778 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Mohawk Industries by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after buying an additional 191,077 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $117.24 on Thursday. Mohawk Industries, Inc. has a 1 year low of $104.88 and a 1 year high of $164.29. The firm’s 50-day moving average is $118.12 and its 200 day moving average is $131.53. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on MHK. The Goldman Sachs Group cut their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Wednesday, January 8th. Truist Financial decreased their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Raymond James reissued a “strong-buy” rating and issued a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.07.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Profile

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.