Proficio Capital Partners LLC Makes New $3.73 Million Investment in Mohawk Industries, Inc. (NYSE:MHK)

Proficio Capital Partners LLC bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,331 shares of the company’s stock, valued at approximately $3,732,000.

Several other hedge funds have also made changes to their positions in MHK. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Mohawk Industries during the third quarter worth about $36,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Mohawk Industries during the third quarter worth about $55,000. True Wealth Design LLC acquired a new stake in shares of Mohawk Industries during the third quarter worth about $61,000. Versant Capital Management Inc lifted its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Mohawk Industries during the fourth quarter worth about $66,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Down 2.8 %

MHK stock opened at $113.06 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a twelve month low of $104.88 and a twelve month high of $164.29. The company’s 50 day moving average is $121.23 and its two-hundred day moving average is $137.05. The stock has a market cap of $7.08 billion, a P/E ratio of 13.91, a PEG ratio of 1.44 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on MHK. Bank of America reduced their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research 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 price target on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Truist Financial reduced their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Loop Capital reduced their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the transaction, the insider now directly owns 104,084 shares in the company, valued at approximately $13,126,033.24. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 17,078 shares of company stock worth $2,203,387. Insiders own 17.10% of the company’s stock.

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.