Duality Advisers LP Grows Position in Mohawk Industries, Inc. (NYSE:MHK)

Duality Advisers LP grew its stake in Mohawk Industries, Inc. (NYSE:MHK) by 199.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,048 shares of the company’s stock after buying an additional 9,364 shares during the period. Duality Advisers LP’s holdings in Mohawk Industries were worth $1,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Mohawk Industries by 1,152.0% during the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock worth $82,462,000 after acquiring an additional 733,097 shares during the period. Paradice Investment Management LLC lifted its stake in shares of Mohawk Industries by 52.4% during the 3rd quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock valued at $44,494,000 after buying an additional 178,310 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Mohawk Industries by 9.7% during the 3rd quarter. Invesco Ltd. now owns 1,759,210 shares of the company’s stock valued at $150,958,000 after buying an additional 156,230 shares in the last quarter. Gendell Jeffrey L boosted its holdings in Mohawk Industries by 62.2% in the 3rd quarter. Gendell Jeffrey L now owns 358,827 shares of the company’s stock worth $30,791,000 after buying an additional 137,602 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Mohawk Industries by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after buying an additional 103,813 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MHK shares. The Goldman Sachs Group lifted their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Barclays boosted their target price on Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Royal Bank of Canada upped their price objective on Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, February 12th. Truist Financial lifted their price target on Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, TheStreet upgraded Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Mohawk Industries presently has an average rating of “Hold” and an average price target of $118.75.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.10% of the stock is owned by company insiders.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $113.37 on Wednesday. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $131.19. The business has a fifty day moving average price of $119.13 and a 200 day moving average price of $102.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.86 by $0.10. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted $1.32 EPS. Mohawk Industries’s revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Mohawk Industries, Inc. will post 9.56 earnings per share for the current fiscal year.

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.