Townsend & Associates Inc Buys 3,078 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Townsend & Associates Inc increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 263,143 shares of the company’s stock after acquiring an additional 3,078 shares during the period. Mohawk Industries accounts for about 3.5% of Townsend & Associates Inc’s holdings, making the stock its 9th largest position. Townsend & Associates Inc owned about 0.42% of Mohawk Industries worth $34,382,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Signaturefd LLC increased its holdings in shares of Mohawk Industries by 12.5% during the 3rd quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after acquiring an additional 76 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Mohawk Industries by 20.6% during the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock valued at $101,000 after acquiring an additional 107 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of 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 acquiring an additional 115 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after acquiring an additional 121 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Mohawk Industries by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $115.89 on Friday. 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 capitalization of $7.32 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41. Mohawk Industries, Inc. has a one year low of $104.88 and a one year high of $164.29. The business has a 50 day simple moving average of $121.69 and a 200 day simple moving average of $138.29.

Mohawk Industries (NYSE:MHK) last posted its earnings results 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 8.04% and a net margin of 4.78%. On average, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MHK shares. Bank of America lowered their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Loop Capital lowered their target price on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Truist Financial lowered their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Evercore ISI lowered their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Six equities research 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 company’s stock. According to MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus target price of $146.92.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 2,453 shares in the company, valued at $332,332.44. This trade represents a 44.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 19,078 shares of company stock worth $2,474,347 in the last 90 days. 17.10% of the stock is owned by company insiders.

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.