Entropy Technologies LP Invests $703,000 in Mohawk Industries, Inc. (NYSE:MHK)

Entropy Technologies LP acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,899 shares of the company’s stock, valued at approximately $703,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Mohawk Industries by 12.5% during the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after purchasing an additional 76 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Mohawk Industries by 20.6% during the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock valued at $101,000 after buying an additional 107 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Mohawk Industries by 7.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after buying an additional 115 shares during the period. Contravisory Investment Management Inc. increased its stake in Mohawk Industries by 2.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after buying an additional 121 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Mohawk Industries by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after acquiring an additional 130 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the completion of the sale, the insider now owns 2,453 shares in the company, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday. The Goldman Sachs Group dropped their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Truist Financial dropped their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research report on Monday. Finally, Evercore ISI reduced their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.29.

Mohawk Industries Trading Up 1.6 %

Shares of NYSE MHK opened at $119.32 on Wednesday. The stock has a market capitalization of $7.53 billion, a P/E ratio of 14.68, a PEG ratio of 1.60 and a beta of 1.41. Mohawk Industries, Inc. has a 1-year low of $104.88 and a 1-year high of $164.29. The business’s 50 day moving average is $123.61 and its two-hundred day moving average is $140.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, research analysts expect that Mohawk Industries, Inc. will post 10.71 EPS for the current year.

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.