JPMorgan Chase & Co. Buys 191,077 Shares of Mohawk Industries, Inc. (NYSE:MHK)

JPMorgan Chase & Co. raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,215,616 shares of the company’s stock after acquiring an additional 191,077 shares during the period. JPMorgan Chase & Co. owned approximately 5.09% of Mohawk Industries worth $383,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MHK. Magnetar Financial LLC raised its position in Mohawk Industries by 353.1% in the 4th quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock worth $4,659,000 after purchasing an additional 30,477 shares during the period. Choreo LLC bought a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $258,000. Townsend & Associates Inc raised its holdings in shares of Mohawk Industries by 1.2% in the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock worth $34,382,000 after buying an additional 3,078 shares during the period. Sciencast Management LP lifted its stake in shares of Mohawk Industries by 59.1% during the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company’s stock worth $725,000 after acquiring an additional 2,262 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Mohawk Industries during the 4th quarter valued at $997,000. Institutional investors own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 2.9 %

NYSE MHK opened at $113.78 on Friday. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29. The company has a 50 day moving average price of $119.00 and a 200 day moving average price of $132.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.12 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analyst Ratings Changes

MHK has been the subject of several research analyst reports. Truist Financial decreased their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Loop Capital lowered their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Evercore ISI dropped their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday, February 10th. Raymond James reaffirmed a “strong-buy” rating and set a $165.00 price target (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Finally, Barclays dropped their price objective on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries 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.