Union Square Park Capital Management LLC Has $3.57 Million Stake in Mohawk Industries, Inc. (NYSE:MHK)

Union Square Park Capital Management LLC lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Mohawk Industries makes up about 2.3% of Union Square Park Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Union Square Park Capital Management LLC’s holdings in Mohawk Industries were worth $3,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MHK. Magnetar Financial LLC lifted its holdings in Mohawk Industries by 353.1% in the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock valued at $4,659,000 after buying an additional 30,477 shares during the period. Sei Investments Co. raised its holdings in Mohawk Industries by 46.3% in the fourth quarter. Sei Investments Co. now owns 91,586 shares of the company’s stock worth $10,911,000 after purchasing an additional 28,998 shares during the period. Choreo LLC acquired a new stake in Mohawk Industries in the fourth quarter worth $258,000. Townsend & Associates Inc raised its holdings in 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 purchasing an additional 3,078 shares during the period. Finally, Sciencast Management LP raised its holdings in Mohawk Industries by 59.1% in the fourth quarter. Sciencast Management LP now owns 6,088 shares of the company’s stock worth $725,000 after purchasing an additional 2,262 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 transaction of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. The trade was a 10.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.40% of the stock is currently owned by insiders.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $107.57 on Tuesday. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The company has a 50-day simple moving average of $108.00 and a 200 day simple moving average of $119.77. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the firm earned $1.86 EPS. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MHK. Royal Bank of Canada cut their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating on the stock in a report on Monday, May 5th. Wells Fargo & Company lowered their price objective on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Truist Financial lowered their price objective on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Barclays lowered their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 target price for the company. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

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.