Invenomic Capital Management LP Purchases New Position in Mohawk Industries, Inc. (NYSE:MHK)

Invenomic Capital Management LP purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHKFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 57,064 shares of the company’s stock, valued at approximately $5,906,000. Invenomic Capital Management LP owned about 0.09% of Mohawk Industries at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its stake in shares of Mohawk Industries by 72.1% in the 4th quarter. Truist Financial Corp now owns 294,894 shares of the company’s stock valued at $30,522,000 after purchasing an additional 123,508 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Mohawk Industries in the 3rd quarter valued at approximately $1,170,000. ARGA Investment Management LP lifted its stake in shares of Mohawk Industries by 50.8% in the 4th quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after purchasing an additional 168,401 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Mohawk Industries by 4.0% in the 3rd quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock valued at $51,275,000 after purchasing an additional 23,070 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Mohawk Industries in the 4th quarter valued at approximately $992,000. 78.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MHK shares. Royal Bank of Canada raised their price target on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Truist Financial raised their price target on Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Raymond James raised 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 note on Monday. JPMorgan Chase & Co. raised their price target on Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Barclays decreased their price target on Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.20.

Get Our Latest Stock Report on Mohawk Industries

Mohawk Industries Stock Up 4.1 %

MHK opened at $118.03 on Tuesday. The stock’s fifty day moving average is $117.28 and its two-hundred day moving average is $111.31. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83.

Mohawk Industries (NYSE:MHKGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The company had revenue of $2.68 billion for 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 quarterly revenue was down 4.5% on a year-over-year basis. As a group, analysts predict that Mohawk Industries, Inc. will post 9.68 earnings per share for the current fiscal year.

Mohawk Industries Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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