Interval Partners LP Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Interval Partners LP acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,000 shares of the company’s stock, valued at approximately $3,272,000.

Several other hedge funds have also recently added to or reduced their stakes in MHK. Norges Bank purchased a new position in Mohawk Industries during the 4th quarter worth $68,050,000. Dimensional Fund Advisors LP raised its holdings in Mohawk Industries by 14.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock worth $254,543,000 after purchasing an additional 317,278 shares in the last quarter. ARGA Investment Management LP increased its holdings in shares of Mohawk Industries by 50.8% during the fourth quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after acquiring an additional 168,401 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Mohawk Industries by 22.4% during the fourth quarter. Brandes Investment Partners LP now owns 816,138 shares of the company’s stock valued at $84,470,000 after buying an additional 149,370 shares during the last quarter. Finally, Townsend & Associates Inc raised its stake in shares of Mohawk Industries by 104.7% in the fourth quarter. Townsend & Associates Inc now owns 256,266 shares of the company’s stock worth $25,004,000 after buying an additional 131,076 shares during the period. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Up 0.2 %

Shares of MHK stock traded up $0.35 during trading on Wednesday, reaching $162.45. The company’s stock had a trading volume of 261,772 shares, compared to its average volume of 723,808. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of -24.79, a P/E/G ratio of 1.35 and a beta of 1.38. The stock’s 50-day moving average price is $119.76 and its 200 day moving average price is $116.95. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $163.84.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business posted $2.76 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. On average, research analysts anticipate that Mohawk Industries, Inc. will post 9.68 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MHK. The Goldman Sachs Group upped their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and upped their price target for the company from $120.00 to $177.00 in a report on Friday, July 26th. Wells Fargo & Company upped their target price on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a research note on Monday. Raymond James raised shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price for the company in a research report on Monday, June 10th. Finally, Truist Financial increased their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus target price of $153.42.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of Mohawk Industries stock in a transaction 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 completion of the transaction, the insider now owns 122,369 shares of the company’s stock, valued at $13,673,512.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Mohawk Industries news, insider Cock Paul F. De 1,118 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 1,800 shares of the business’s 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 completion of the sale, the insider now directly owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The disclosure for this sale can be found here. 17.10% of the stock is owned by corporate 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.