Brandywine Global Investment Management LLC Boosts Position in Mohawk Industries, Inc. (NYSE:MHK)

Brandywine Global Investment Management LLC raised its stake in Mohawk Industries, Inc. (NYSE:MHK) by 25.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,675 shares of the company’s stock after buying an additional 7,876 shares during the period. Brandywine Global Investment Management LLC owned about 0.06% of Mohawk Industries worth $4,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Mohawk Industries in the fourth quarter valued at approximately $61,171,000. American Century Companies Inc. raised its position in Mohawk Industries by 48.7% during the 4th quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock valued at $114,224,000 after purchasing an additional 313,897 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock worth $383,076,000 after buying an additional 191,077 shares during the period. Amundi grew its position in shares of Mohawk Industries by 117.4% during the 4th quarter. Amundi now owns 331,750 shares of the company’s stock worth $39,239,000 after buying an additional 179,121 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Mohawk Industries by 72.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 335,176 shares of the company’s stock valued at $39,930,000 after buying an additional 140,647 shares during the period. 78.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MHK has been the subject of a number of research reports. Wells Fargo & Company lowered their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group cut their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Truist Financial lowered their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Mohawk Industries in a report on Tuesday. They issued a “hold” rating and a $121.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.07.

Mohawk Industries Stock Up 0.7 %

MHK stock opened at $114.93 on Wednesday. The stock has a market capitalization of $7.19 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $118.38 and a 200 day moving average of $131.63.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.10% of the company’s stock.

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.