GAMMA Investing LLC Buys Shares of 1,617 Mohawk Industries, Inc. (NYSE:MHK)

GAMMA Investing LLC bought a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,617 shares of the company’s stock, valued at approximately $169,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MHK. Pacer Advisors Inc. boosted its stake in Mohawk Industries by 1,152.0% in the fourth quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock valued at $82,462,000 after acquiring an additional 733,097 shares during the last quarter. Paradice Investment Management LLC boosted its stake in Mohawk Industries by 52.4% in the third quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock valued at $44,494,000 after acquiring an additional 178,310 shares during the last quarter. Invesco Ltd. boosted its stake in Mohawk Industries by 9.7% in the third quarter. Invesco Ltd. now owns 1,759,210 shares of the company’s stock valued at $150,958,000 after acquiring an additional 156,230 shares during the last quarter. Gendell Jeffrey L boosted its stake in Mohawk Industries by 62.2% in the third quarter. Gendell Jeffrey L now owns 358,827 shares of the company’s stock valued at $30,791,000 after acquiring an additional 137,602 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Mohawk Industries by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock valued at $208,972,000 after buying an additional 103,813 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Trading Up 4.7 %

Shares of NYSE:MHK opened at $115.45 on Friday. The company’s fifty day moving average price is $118.86 and its 200-day moving average price is $102.85. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $131.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. The firm had revenue of $2.68 billion for 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 7.71%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.75 EPS. As a group, analysts anticipate that Mohawk Industries, Inc. will post 9.56 EPS for the current year.

Insider Transactions at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial upped their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and upped their price target for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, January 22nd. The Goldman Sachs Group increased their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $118.75.

About Mohawk Industries

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.