Wilsey Asset Management Inc. Sells 3,058 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Wilsey Asset Management Inc. reduced its stake in Mohawk Industries, Inc. (NYSE:MHKFree Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,303 shares of the company’s stock after selling 3,058 shares during the quarter. Mohawk Industries comprises 3.4% of Wilsey Asset Management Inc.’s holdings, making the stock its 15th largest position. Wilsey Asset Management Inc. owned 0.20% of Mohawk Industries worth $16,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP increased its position in Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after buying an additional 174 shares during the period. Allworth Financial LP increased its holdings in shares of 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 raised its position in shares of Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in shares of Mohawk Industries by 32,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after buying an additional 650 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $101,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 1,800 shares of Mohawk Industries stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $111.74, for a total value of $201,132.00. Following the sale, the insider now owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MHK shares. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a research note on Monday, June 10th. Royal Bank of Canada increased their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of Mohawk Industries from $122.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Loop Capital dropped their target price on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.20.

Get Our Latest Stock Analysis on MHK

Mohawk Industries Stock Down 0.9 %

Shares of NYSE MHK traded down $1.01 during mid-day trading on Tuesday, reaching $111.44. 541,738 shares of the company’s stock traded hands, compared to its average volume of 672,721. The stock has a market cap of $7.12 billion, a P/E ratio of -17.05, a PEG ratio of 1.11 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $131.19. The business has a 50-day simple moving average of $116.24 and a 200 day simple moving average of $112.28.

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

About Mohawk Industries

(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.

Further Reading

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

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