ING Groep NV Increases Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

ING Groep NV boosted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 803.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,191 shares of the company’s stock after buying an additional 32,185 shares during the quarter. ING Groep NV’s holdings in Mohawk Industries were worth $4,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ieq Capital LLC lifted its position in Mohawk Industries by 91.8% in the fourth quarter. Ieq Capital LLC now owns 9,527 shares of the company’s stock valued at $1,135,000 after acquiring an additional 4,560 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Mohawk Industries by 39.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,160 shares of the company’s stock valued at $257,000 after buying an additional 609 shares during the last quarter. Cardinal Capital Management raised its holdings in shares of Mohawk Industries by 7.3% in the fourth quarter. Cardinal Capital Management now owns 12,673 shares of the company’s stock valued at $1,510,000 after buying an additional 863 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Mohawk Industries by 7.4% in the fourth quarter. Truist Financial Corp now owns 374,456 shares of the company’s stock valued at $44,609,000 after buying an additional 25,864 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Mohawk Industries by 2.5% in the fourth 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 last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MHK has been the subject of a number of research reports. Robert W. Baird reduced their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Barclays reduced their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Raymond James reaffirmed a “strong-buy” rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Wednesday, January 8th. Finally, Royal Bank of Canada dropped their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Insider Activity

In other news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 19,078 shares of company stock worth $2,474,347 over the last ninety days. 17.10% of the stock is currently owned by insiders.

Mohawk Industries Trading Down 1.8 %

Shares of MHK opened at $115.89 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average is $121.69 and its two-hundred day moving average is $138.35. Mohawk Industries, Inc. has a twelve month low of $104.88 and a twelve month high of $164.29. The firm has a market capitalization of $7.31 billion, a P/E ratio of 14.25, a PEG ratio of 1.44 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share 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%. On average, research analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal 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.