GAMMA Investing LLC Invests $169,000 in Mohawk Industries, Inc. (NYSE:MHK)

GAMMA Investing LLC acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,617 shares of the company’s stock, valued at approximately $169,000.

Several other large investors have also recently bought and sold shares of MHK. Pacer Advisors Inc. lifted its holdings in Mohawk Industries by 1,152.0% during the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock worth $82,462,000 after buying an additional 733,097 shares in the last quarter. Paradice Investment Management LLC lifted its holdings in Mohawk Industries by 52.4% during the 3rd quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock worth $44,494,000 after buying an additional 178,310 shares in the last quarter. Invesco Ltd. lifted its holdings in Mohawk Industries by 9.7% during the 3rd quarter. Invesco Ltd. now owns 1,759,210 shares of the company’s stock worth $150,958,000 after buying an additional 156,230 shares in the last quarter. Gendell Jeffrey L lifted its holdings in Mohawk Industries by 62.2% during the 3rd quarter. Gendell Jeffrey L now owns 358,827 shares of the company’s stock worth $30,791,000 after buying an additional 137,602 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Mohawk Industries by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock valued at $208,972,000 after purchasing an additional 103,813 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $115.45 on Friday. The firm has a 50-day moving average of $118.86 and a 200-day moving average of $102.85. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.71%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the business posted $1.75 EPS. Mohawk Industries’s revenue was down 4.5% on a year-over-year basis. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 9.56 earnings per share for the current year.

Wall Street Analyst Weigh In

MHK has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price target on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Wells Fargo & Company lowered their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Barclays increased their target price on Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Truist Financial increased their target price on Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, TheStreet upgraded Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $118.75.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by company insiders.

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.