Schroder Investment Management Group Lowers Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Schroder Investment Management Group lessened its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 434,169 shares of the company’s stock after selling 93,192 shares during the period. Schroder Investment Management Group’s holdings in Mohawk Industries were worth $51,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cerity Partners LLC purchased a new stake in Mohawk Industries in the third quarter worth about $1,935,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Mohawk Industries by 15.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,307 shares of the company’s stock worth $1,977,000 after buying an additional 1,685 shares during the last quarter. Public Sector Pension Investment Board increased its position in Mohawk Industries by 2.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,165 shares of the company’s stock valued at $1,473,000 after buying an additional 200 shares in the last quarter. Hantz Financial Services Inc. increased its position in Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after buying an additional 115 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Mohawk Industries by 95.2% during the third quarter. Captrust Financial Advisors now owns 4,756 shares of the company’s stock valued at $764,000 after buying an additional 2,319 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Shares of MHK opened at $114.29 on Tuesday. Mohawk Industries, Inc. has a one year low of $104.88 and a one year high of $164.29. The business has a fifty day moving average of $118.70 and a 200 day moving average of $131.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The firm has a market capitalization of $7.15 billion, a P/E ratio of 14.06, a PEG ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results 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 net margin of 4.78% and a return on equity of 8.04%. As a group, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MHK. Robert W. Baird cut their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Truist Financial decreased their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. Barclays cut their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Finally, Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction on Friday, March 14th. The stock was 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 represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 17.10% of the company’s stock.

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.