Lecap Asset Management Ltd. Buys New Shares in Mohawk Industries, Inc. (NYSE:MHK)

Lecap Asset Management Ltd. purchased a new position in Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 10,752 shares of the company’s stock, valued at approximately $1,728,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MHK. Massachusetts Financial Services Co. MA bought a new position in shares of Mohawk Industries during the 2nd quarter worth about $85,997,000. Pacer Advisors Inc. raised its stake in Mohawk Industries by 42.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after buying an additional 360,628 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after acquiring an additional 292,661 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Mohawk Industries by 1,464.0% in the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock worth $25,825,000 after acquiring an additional 212,820 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in Mohawk Industries in the second quarter valued at approximately $21,061,000. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Stock Down 5.2 %

Mohawk Industries stock opened at $152.93 on Wednesday. The firm has a 50 day moving average price of $154.60 and a 200-day moving average price of $133.35. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $164.29. The company has a market capitalization of $9.77 billion, a P/E ratio of -23.38, a P/E/G ratio of 1.23 and a beta of 1.37.

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

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the transaction, the insider now directly owns 121,669 shares in the company, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MHK shares. Royal Bank of Canada upped their target price on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Truist Financial raised their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Loop Capital increased their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective 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. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Mohawk Industries has an average rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Company 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.