Raymond James & Associates Purchases 451 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Raymond James & Associates grew its position in Mohawk Industries, Inc. (NYSE:MHK) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,570 shares of the company’s stock after buying an additional 451 shares during the period. Raymond James & Associates’ holdings in Mohawk Industries were worth $1,715,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Mohawk Industries by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,033,272 shares of the company’s stock valued at $550,173,000 after buying an additional 112,111 shares in the last quarter. BlackRock Inc. boosted its stake in Mohawk Industries by 0.8% in the 1st quarter. BlackRock Inc. now owns 4,362,231 shares of the company’s stock worth $541,788,000 after purchasing an additional 35,043 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Mohawk Industries by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after purchasing an additional 103,813 shares in the last quarter. State Street Corp boosted its stake in Mohawk Industries by 4.1% in the 2nd quarter. State Street Corp now owns 2,094,203 shares of the company’s stock worth $216,038,000 after purchasing an additional 83,172 shares in the last quarter. Finally, Ariel Investments LLC boosted its stake in Mohawk Industries by 3.9% in the 3rd quarter. Ariel Investments LLC now owns 2,059,100 shares of the company’s stock worth $176,691,000 after purchasing an additional 77,974 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MHK has been the subject of a number of recent analyst reports. Barclays lifted their target price on shares of Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Royal Bank of Canada lifted their target price on shares of Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, February 12th. Wells Fargo & Company decreased their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, January 22nd. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Finally, Truist Financial lifted their price objective on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $117.56.

Mohawk Industries Price Performance

NYSE:MHK opened at $108.27 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of -15.65 and a beta of 1.34. The company has a 50 day moving average price of $119.33 and a 200-day moving average price of $101.82. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $131.19.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.10. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. Equities research analysts forecast that Mohawk Industries, Inc. will post 9.56 EPS for the current year.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the sale, the vice president now owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.10% of the stock is owned by insiders.

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.