Oppenheimer Asset Management Inc. bought a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 746 shares of the company’s stock, valued at approximately $87,000.
Several other hedge funds have also recently made changes to their positions in the company. Moody National Bank Trust Division raised its holdings in shares of Mohawk Industries by 0.6% in the fourth quarter. Moody National Bank Trust Division now owns 18,666 shares of the company’s stock valued at $2,183,000 after purchasing an additional 106 shares during the last quarter. Patten & Patten Inc. TN grew its position in Mohawk Industries by 1.6% during the fourth quarter. Patten & Patten Inc. TN now owns 7,635 shares of the company’s stock valued at $893,000 after buying an additional 120 shares during the period. Belpointe Asset Management LLC grew its position in Mohawk Industries by 15.9% during the third quarter. Belpointe Asset Management LLC now owns 1,116 shares of the company’s stock valued at $196,000 after buying an additional 153 shares during the period. CENTRAL TRUST Co grew its position in Mohawk Industries by 66.1% during the fourth quarter. CENTRAL TRUST Co now owns 407 shares of the company’s stock valued at $48,000 after buying an additional 162 shares during the period. Finally, Gilman Hill Asset Management LLC grew its position in Mohawk Industries by 7.4% during the fourth quarter. Gilman Hill Asset Management LLC now owns 3,036 shares of the company’s stock valued at $355,000 after buying an additional 210 shares during the period. Institutional investors own 78.60% of the company’s stock.
Shares of NYSE:MHK opened at $139.71 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.38 and a quick ratio of 0.68. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 2.16 and a beta of 1.49. Mohawk Industries, Inc. has a twelve month low of $109.35 and a twelve month high of $253.55.
Mohawk Industries declared that its board has approved a share repurchase plan on Thursday, October 25th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other Mohawk Industries news, Director Filip Balcaen bought 9,000 shares of the business’s stock in a transaction on Wednesday, December 26th. The stock was purchased at an average price of $109.76 per share, for a total transaction of $987,840.00. Following the completion of the transaction, the director now directly owns 776 shares of the company’s stock, valued at $85,173.76. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Rodney David Patton sold 763 shares of the stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $125.27, for a total transaction of $95,581.01. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 216,046 shares of company stock valued at $26,149,264 and have sold 25,652 shares valued at $3,467,296. 16.80% of the stock is owned by company insiders.
Several research firms recently weighed in on MHK. Zacks Investment Research upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. SunTrust Banks increased their price target on shares of Mohawk Industries to $150.00 and gave the company a “buy” rating in a research report on Monday, February 11th. They noted that the move was a valuation call. Buckingham Research began coverage on shares of Mohawk Industries in a research report on Friday, February 1st. They set an “underperform” rating and a $116.00 price target for the company. Royal Bank of Canada set a $129.00 price target on shares of Mohawk Industries and gave the company a “hold” rating in a research report on Monday, October 29th. Finally, Loop Capital increased their price target on shares of Mohawk Industries to $126.00 and gave the company an “underperform” rating in a research report on Friday, February 8th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $168.94.
Mohawk Industries Company Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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