IFG Advisory LLC Has $3.32 Million Stake in Mohawk Industries, Inc. (NYSE:MHK)

IFG Advisory LLC increased its position in Mohawk Industries, Inc. (NYSE:MHK) by 159.8% in the fourth quarter, HoldingsChannel reports. The firm owned 32,115 shares of the company’s stock after acquiring an additional 19,752 shares during the period. IFG Advisory LLC’s holdings in Mohawk Industries were worth $3,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MHK. Vanguard Group Inc. boosted its stake in shares of Mohawk Industries by 1.9% during 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 during the period. BlackRock Inc. boosted its stake in shares of Mohawk Industries by 0.8% during the 1st quarter. BlackRock Inc. now owns 4,362,231 shares of the company’s stock valued at $541,788,000 after buying an additional 35,043 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Mohawk Industries by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock valued at $208,972,000 after buying an additional 103,813 shares during the period. State Street Corp boosted its stake in shares of Mohawk Industries by 4.1% during the 2nd quarter. State Street Corp now owns 2,094,203 shares of the company’s stock valued at $216,038,000 after buying an additional 83,172 shares during the period. Finally, Ariel Investments LLC boosted its stake in shares of Mohawk Industries by 3.9% during the 3rd quarter. Ariel Investments LLC now owns 2,059,100 shares of the company’s stock valued at $176,691,000 after buying an additional 77,974 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analysts Set New Price Targets

MHK has been the subject of a number of research reports. Wells Fargo & Company decreased their target price 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. 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. TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Hold” and an average price target of $117.56.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.20% of the company’s stock.

Mohawk Industries Stock Performance

MHK traded up $2.49 during trading on Wednesday, hitting $127.59. The stock had a trading volume of 53,647 shares, compared to its average volume of 732,162. The firm has a market cap of $8.13 billion, a PE ratio of -18.08 and a beta of 1.33. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $127.75. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $113.45 and a 200-day simple moving average of $98.31.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.10. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm posted $1.32 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that Mohawk Industries, Inc. will post 9.59 EPS for the current year.

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.