Mohawk Industries, Inc. $MHK Stock Purchased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 37.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,062 shares of the company’s stock after buying an additional 4,083 shares during the period. Chicago Partners Investment Group LLC’s holdings in Mohawk Industries were worth $1,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Mohawk Industries during the 2nd quarter valued at approximately $25,000. Elevation Wealth Partners LLC raised its stake in Mohawk Industries by 122.2% during the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock valued at $27,000 after buying an additional 121 shares during the last quarter. Basecamp Wealth Advisors LLC boosted its holdings in Mohawk Industries by 2,281.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Provenance Wealth Advisors LLC bought a new stake in Mohawk Industries in the third quarter worth $36,000. Finally, Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Mohawk Industries in the third quarter worth $36,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

MHK stock opened at $150.25 on Friday. The stock has a market capitalization of $8.73 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18. Mohawk Industries, Inc. has a 12-month low of $92.99 and a 12-month high of $155.88. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $127.34 and its 200 day simple moving average is $117.28.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, October 29th. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.14. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.67 EPS. As a group, research analysts forecast that Mohawk Industries, Inc. will post 9.76 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bernard Thiers sold 15,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $144.05, for a total transaction of $2,160,750.00. Following the sale, the director directly owned 78,633 shares of the company’s stock, valued at $11,327,083.65. This trade represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Lorberbaum sold 45,750 shares of Mohawk Industries stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $127.18, for a total value of $5,818,485.00. Following the completion of the sale, the chief executive officer owned 78,425 shares of the company’s stock, valued at $9,974,091.50. The trade was a 36.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 122,946 shares of company stock valued at $16,236,934 over the last ninety days. 17.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America restated a “neutral” rating on shares of Mohawk Industries in a report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $121.00 price target on shares of Mohawk Industries in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Truist Financial raised their price objective on shares of Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Barclays raised their price objective on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Hold” and an average price target of $138.92.

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.