Cardinal Capital Management Has $1.22 Million Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Cardinal Capital Management increased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,755 shares of the company’s stock after purchasing an additional 311 shares during the period. Cardinal Capital Management’s holdings in Mohawk Industries were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its position in Mohawk Industries by 2.8% during the 4th quarter. Raymond James & Associates now owns 16,570 shares of the company’s stock worth $1,715,000 after buying an additional 451 shares in the last quarter. Arizona State Retirement System lifted its position in Mohawk Industries by 2.5% during the 4th quarter. Arizona State Retirement System now owns 15,132 shares of the company’s stock worth $1,566,000 after buying an additional 364 shares in the last quarter. Allworth Financial LP lifted its position in Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after buying an additional 244 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Mohawk Industries by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 24,543 shares of the company’s stock worth $2,540,000 after buying an additional 552 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in Mohawk Industries during the 4th quarter worth about $101,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

MHK traded up $0.92 on Friday, reaching $146.45. The company had a trading volume of 580,920 shares, compared to its average volume of 730,832. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $164.05. The stock has a market cap of $9.35 billion, a P/E ratio of -22.39, a P/E/G ratio of 1.23 and a beta of 1.38. The company’s fifty day moving average is $124.98 and its 200 day moving average is $119.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the business earned $2.76 EPS. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, analysts predict that Mohawk Industries, Inc. will post 9.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on MHK shares. Loop Capital boosted their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and upped their target price for the company from $120.00 to $177.00 in a report on Friday, July 26th. Truist Financial upped their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada upped their target price on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, Raymond James raised shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price on the stock in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the transaction, the insider now owns 122,369 shares in the company, valued at approximately $13,673,512.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the transaction, the insider now owns 122,369 shares in the company, valued at approximately $13,673,512.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rodney David Patton sold 755 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The disclosure for this sale can be found here. Company insiders own 17.10% of the company’s stock.

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.