BayBridge Capital Group LLC Trims Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

BayBridge Capital Group LLC lowered its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,481 shares of the company’s stock after selling 523 shares during the quarter. BayBridge Capital Group LLC’s holdings in Mohawk Industries were worth $296,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries during the 3rd quarter valued at about $36,000. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries during the third quarter valued at approximately $55,000. Blue Trust Inc. lifted its holdings in shares of Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Mohawk Industries in the 3rd quarter worth approximately $61,000. Finally, Versant Capital Management Inc grew its stake in shares of Mohawk Industries by 71.0% in the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after buying an additional 223 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

MHK has been the subject of a number of recent research reports. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $160.00 to $196.00 in a research note on Monday, October 21st. The Goldman Sachs Group dropped their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. 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 research note on Wednesday, January 8th. Royal Bank of Canada dropped their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the company from $151.00 to $161.00 in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.62.

Mohawk Industries Stock Performance

Shares of MHK opened at $120.46 on Friday. The firm has a market capitalization of $7.60 billion, a P/E ratio of 13.64, a PEG ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries, Inc. has a one year low of $101.83 and a one year high of $164.29. The business has a fifty day moving average of $124.67 and a 200 day moving average of $140.52.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.05% and a net margin of 5.22%. As a group, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.64 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the sale, the insider now owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 19,078 shares of company stock valued at $2,474,347. Insiders own 17.10% of the company’s stock.

Mohawk Industries Company 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.