Massachusetts Financial Services Co. MA Has $162.79 Million Stake in Mohawk Industries, Inc. (NYSE:MHK)

Massachusetts Financial Services Co. MA increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 35.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,366,517 shares of the company’s stock after buying an additional 354,656 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Mohawk Industries were worth $162,793,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board grew its holdings in shares of Mohawk Industries by 2.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,165 shares of the company’s stock worth $1,473,000 after purchasing an additional 200 shares in the last quarter. Captrust Financial Advisors grew 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 worth $764,000 after buying an additional 2,319 shares in the last quarter. HighTower Advisors LLC increased its holdings in Mohawk Industries by 36.6% in the 3rd quarter. HighTower Advisors LLC now owns 2,718 shares of the company’s stock valued at $435,000 after buying an additional 728 shares during the period. Maven Securities LTD acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at approximately $209,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Mohawk Industries during the 3rd quarter worth approximately $687,000. Institutional investors own 78.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MHK. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Bank of America reduced their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research note on Wednesday, January 8th. Finally, Truist Financial reduced their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.07.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Down 2.1 %

NYSE:MHK opened at $105.55 on Friday. Mohawk Industries, Inc. has a one year low of $100.56 and a one year high of $164.29. 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 company has a market cap of $6.61 billion, a PE ratio of 12.98, a P/E/G ratio of 1.44 and a beta of 1.44. The firm’s 50 day simple moving average is $117.26 and its 200 day simple moving average is $131.02.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current 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.