GAMMA Investing LLC Boosts Holdings in Mohawk Industries, Inc. (NYSE:MHK)

GAMMA Investing LLC raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 21.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,196 shares of the company’s stock after buying an additional 389 shares during the period. GAMMA Investing LLC’s holdings in Mohawk Industries were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MHK. Quarry LP boosted its position in Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares in the last quarter. Allworth Financial LP raised its position in shares of Mohawk Industries by 88.1% in the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after acquiring an additional 244 shares during the period. Signaturefd LLC boosted its stake in shares of Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after acquiring an additional 128 shares in the last quarter. Quent Capital LLC grew its position in shares of Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after acquiring an additional 106 shares during the period. Finally, TFO Wealth Partners LLC increased its stake in shares of Mohawk Industries by 32,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after purchasing an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a report on Monday, June 10th. Loop Capital boosted their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Barclays increased their price objective on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Truist Financial lifted their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company lifted their target price on shares of Mohawk Industries from $110.00 to $140.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Mohawk Industries currently has an average rating of “Moderate Buy” and an average price target of $156.00.

Mohawk Industries Trading Up 1.7 %

NYSE:MHK traded up $2.49 on Tuesday, hitting $149.49. The stock had a trading volume of 183,389 shares, compared to its average volume of 732,626. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of -22.48, a PEG ratio of 1.23 and a beta of 1.38. The company has a fifty day moving average price of $122.17 and a two-hundred day moving average price of $118.12. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $164.05.

Mohawk Industries (NYSE:MHK) last posted its earnings results 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. Mohawk Industries’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.76 EPS. Equities research analysts expect that Mohawk Industries, Inc. will post 9.9 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $111.74, for a total value of $201,132.00. Following the sale, the insider now directly owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $111.74, for a total value of $201,132.00. Following the sale, the insider now directly owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. The disclosure for this sale can be found here. Insiders own 17.10% of the company’s stock.

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.