Tower Research Capital LLC TRC Acquires 3,846 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Tower Research Capital LLC TRC lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 144.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,510 shares of the company’s stock after purchasing an additional 3,846 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Mohawk Industries were worth $776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Huntington National Bank increased its stake in Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after acquiring an additional 119 shares during the period. Contravisory Investment Management Inc. raised its stake in Mohawk Industries by 2.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after purchasing an additional 121 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 worth $819,000 after purchasing an additional 130 shares during the period. Treasurer of the State of North Carolina grew its stake in Mohawk Industries by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company’s stock worth $2,748,000 after buying an additional 150 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Mohawk Industries by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 7,816 shares of the company’s stock valued at $931,000 after buying an additional 190 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This trade 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 the SEC website. 17.40% of the stock is currently owned by company insiders.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $106.81 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The firm has a market cap of $6.68 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The firm’s fifty day moving average is $111.27 and its 200-day moving average is $124.70.

Mohawk Industries (NYSE:MHK) last announced its earnings results 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 return on equity of 8.04% and a net margin of 4.78%. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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 research report on Monday, February 10th. Wells Fargo & Company reduced their target price on Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Truist Financial lowered their price target on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research note on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.57.

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.