Mohawk Industries, Inc. (NYSE:MHK) Shares Bought by Truist Financial Corp

Truist Financial Corp boosted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 374,456 shares of the company’s stock after acquiring an additional 25,864 shares during the quarter. Truist Financial Corp owned about 0.59% of Mohawk Industries worth $44,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Mohawk Industries by 12.5% during the 3rd quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after acquiring an additional 76 shares during the period. Allworth Financial LP lifted its position in Mohawk Industries by 20.6% during the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after acquiring an additional 107 shares during the period. Hantz Financial Services Inc. lifted 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 worth $266,000 after acquiring an additional 115 shares during the period. Contravisory Investment Management Inc. lifted its position in Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after acquiring an additional 121 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Mohawk Industries by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock worth $819,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Price Performance

NYSE:MHK opened at $119.34 on Wednesday. Mohawk Industries, Inc. has a 12 month low of $104.88 and a 12 month high of $164.29. The stock has a 50 day moving average of $122.66 and a two-hundred day moving average of $139.08. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.53 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. On average, analysts expect that Mohawk Industries, Inc. will post 10.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays decreased their price objective on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Loop Capital decreased their price objective on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a report on Monday, February 10th. Wells Fargo & Company decreased their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Robert W. Baird decreased their price objective on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Finally, Bank of America decreased their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 10th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $146.92.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 19,078 shares of company stock worth $2,474,347. Corporate insiders own 17.10% of the company’s stock.

About Mohawk Industries

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.