Olympiad Research LP Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

Olympiad Research LP bought a new stake in Mohawk Industries, Inc. (NYSE:MHKFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,141 shares of the company’s stock, valued at approximately $429,000.

Other large investors also recently made changes to their positions in the company. Huntington National Bank increased its holdings in Mohawk Industries by 36.0% in the third quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after buying an additional 143 shares during the last quarter. Allworth Financial LP boosted its position in Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after purchasing an additional 244 shares during the period. Signaturefd LLC boosted its position in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares during the period. Byrne Asset Management LLC bought a new stake in Mohawk Industries during the fourth quarter worth approximately $101,000. Finally, GAMMA Investing LLC bought a new stake in Mohawk Industries during the fourth quarter worth approximately $169,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 1,551 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the transaction, the vice president now owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

Shares of NYSE:MHK traded up $1.61 during midday trading on Thursday, reaching $117.63. The company’s stock had a trading volume of 221,644 shares, compared to its average volume of 674,024. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The company has a market capitalization of $7.51 billion, a P/E ratio of -18.06, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. The business’s fifty day simple moving average is $118.85 and its 200-day simple moving average is $109.25.

Mohawk Industries (NYSE:MHKGet Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the company posted $1.75 earnings per share. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 9.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MHK has been the subject of a number of recent analyst reports. Truist Financial upped their target price on Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Royal Bank of Canada increased their price objective on Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. Finally, StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.33.

Read Our Latest Research Report on MHK

Mohawk Industries Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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