Meeder Asset Management Inc. Sells 2,413 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Meeder Asset Management Inc. decreased its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,122 shares of the company’s stock after selling 2,413 shares during the quarter. Meeder Asset Management Inc. owned approximately 0.13% of Mohawk Industries worth $9,783,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after buying an additional 748,070 shares in the last quarter. Norges Bank bought a new position in shares of Mohawk Industries in the 4th quarter worth $61,171,000. American Century Companies Inc. raised its position in shares of Mohawk Industries by 48.7% in the 4th quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock worth $114,224,000 after acquiring an additional 313,897 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Mohawk Industries by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after purchasing an additional 191,077 shares in the last quarter. Finally, Amundi grew its stake in Mohawk Industries by 117.4% in the fourth quarter. Amundi now owns 331,750 shares of the company’s stock valued at $39,239,000 after purchasing an additional 179,121 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have commented on MHK. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. The Goldman Sachs Group decreased their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Bank of America cut their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Truist Financial dropped their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.92.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $113.78 on Monday. 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 $119.00 and its 200 day moving average is $132.18. The company 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 earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

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.