Lafayette Investments Inc. Grows Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Lafayette Investments Inc. grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,423 shares of the company’s stock after purchasing an additional 230 shares during the period. Lafayette Investments Inc.’s holdings in Mohawk Industries were worth $2,888,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MHK. Hantz Financial Services Inc. purchased a new stake in Mohawk Industries during the 2nd quarter worth $175,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Mohawk Industries in the 2nd quarter valued at about $202,000. Blackhawk Capital Partners LLC. grew its stake in shares of Mohawk Industries by 14.2% during the second quarter. Blackhawk Capital Partners LLC. now owns 1,997 shares of the company’s stock valued at $227,000 after acquiring an additional 249 shares in the last quarter. Speece Thorson Capital Group Inc. increased its position in shares of Mohawk Industries by 12.9% during the second quarter. Speece Thorson Capital Group Inc. now owns 143,944 shares of the company’s stock worth $16,351,000 after acquiring an additional 16,399 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Mohawk Industries by 4.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,622 shares of the company’s stock worth $1,207,000 after acquiring an additional 467 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mohawk Industries

In related news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Suzanne L. Helen sold 2,300 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares of the company’s stock, valued at approximately $18,042,624.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,555 shares of company stock worth $774,555. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $155.14 on Friday. The company’s fifty day moving average is $135.76 and its two-hundred day moving average is $124.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $164.05.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the business earned $2.76 earnings per share. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MHK shares. Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and raised their price objective for the company from $120.00 to $177.00 in a research note on Friday, July 26th. Raymond James raised shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target for the company in a research report on Monday, June 10th. Royal Bank of Canada lifted their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Truist Financial boosted their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Mohawk Industries currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

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.