Federated Hermes Inc. Trims Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Federated Hermes Inc. lowered its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 14.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,502 shares of the company’s stock after selling 10,940 shares during the quarter. Federated Hermes Inc.’s holdings in Mohawk Industries were worth $12,404,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Fulton Bank N.A. grew its position in shares of Mohawk Industries by 1.8% during the first quarter. Fulton Bank N.A. now owns 2,942 shares of the company’s stock worth $566,000 after purchasing an additional 53 shares in the last quarter. Personal CFO Solutions LLC grew its position in shares of Mohawk Industries by 1.5% during the first quarter. Personal CFO Solutions LLC now owns 3,677 shares of the company’s stock worth $707,000 after purchasing an additional 56 shares in the last quarter. Cigna Investments Inc. New grew its position in shares of Mohawk Industries by 3.0% during the first quarter. Cigna Investments Inc. New now owns 2,182 shares of the company’s stock worth $420,000 after purchasing an additional 64 shares in the last quarter. Boyar Asset Management Inc. grew its position in shares of Mohawk Industries by 2.8% during the fourth quarter. Boyar Asset Management Inc. now owns 2,389 shares of the company’s stock worth $337,000 after purchasing an additional 65 shares in the last quarter. Finally, Norinchukin Bank The grew its position in shares of Mohawk Industries by 1.6% during the first quarter. Norinchukin Bank The now owns 4,969 shares of the company’s stock worth $956,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

In other news, insider Bernard Thiers sold 5,000 shares of Mohawk Industries stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $222.00, for a total value of $1,110,000.00. Following the transaction, the insider now directly owns 65,508 shares in the company, valued at approximately $14,542,776. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.90% of the company’s stock.

MHK has been the subject of several research analyst reports. Loop Capital increased their target price on Mohawk Industries from $170.00 to $190.00 and gave the stock a “hold” rating in a research report on Tuesday, April 20th. TheStreet raised Mohawk Industries from a “c+” rating to a “b-” rating in a research note on Thursday, March 11th. Raymond James increased their price target on Mohawk Industries from $235.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Monday, May 3rd. Barclays increased their price target on Mohawk Industries from $191.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, April 27th. Finally, Truist increased their price target on Mohawk Industries from $220.00 to $236.00 in a research note on Monday, May 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $156.81.

MHK opened at $188.32 on Thursday. The business’s fifty day moving average price is $205.47. The stock has a market cap of $13.13 billion, a P/E ratio of 20.83 and a beta of 1.57. Mohawk Industries, Inc. has a 52 week low of $67.79 and a 52 week high of $231.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.19.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, April 29th. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.80 by $0.69. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.60 billion. Mohawk Industries had a return on equity of 9.14% and a net margin of 6.46%. Equities analysts anticipate that Mohawk Industries, Inc. will post 13.42 EPS for the current year.

Mohawk Industries Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Further Reading: What are some reasons analysts would give stocks a buy rating?

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

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