Scopia Capital Management LP Invests $61.23 Million in Mohawk Industries, Inc. (NYSE:MHK)

Scopia Capital Management LP bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the first quarter, HoldingsChannel reports. The institutional investor bought 318,382 shares of the company’s stock, valued at approximately $61,228,000. Mohawk Industries comprises 7.6% of Scopia Capital Management LP’s holdings, making the stock its 5th biggest holding.

Several other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. increased its position in shares of Mohawk Industries by 35.5% during the first quarter. Point72 Asset Management L.P. now owns 154,120 shares of the company’s stock worth $29,639,000 after acquiring an additional 40,398 shares during the period. Eaton Vance Management increased its position in shares of Mohawk Industries by 5.7% during the first quarter. Eaton Vance Management now owns 5,120 shares of the company’s stock worth $985,000 after acquiring an additional 274 shares during the period. Amundi Asset Management US Inc. boosted its stake in shares of Mohawk Industries by 24.1% during the first quarter. Amundi Asset Management US Inc. now owns 200,427 shares of the company’s stock valued at $38,544,000 after purchasing an additional 38,932 shares in the last quarter. Morgan Stanley boosted its stake in shares of Mohawk Industries by 13.0% during the first quarter. Morgan Stanley now owns 222,261 shares of the company’s stock valued at $42,744,000 after purchasing an additional 25,501 shares in the last quarter. Finally, FORA Capital LLC bought a new position in shares of Mohawk Industries during the first quarter valued at approximately $505,000. 74.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MHK traded down $3.18 during midday trading on Thursday, reaching $189.46. The company had a trading volume of 4,266 shares, compared to its average volume of 474,943. The company’s 50-day moving average is $198.10. The company has a market cap of $13.21 billion, a PE ratio of 17.50 and a beta of 1.56. Mohawk Industries, Inc. has a 1 year low of $78.55 and a 1 year high of $231.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.85.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, April 29th. The company reported $3.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.69. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Mohawk Industries had a net margin of 6.46% and a return on equity of 9.14%. Equities analysts expect that Mohawk Industries, Inc. will post 13.73 EPS for the current year.

In other Mohawk Industries news, insider Bernard Thiers sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $222.00, for a total value of $1,110,000.00. Following the completion of the transaction, the insider now owns 65,508 shares of the company’s stock, valued at $14,542,776. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 18.90% of the company’s stock.

A number of research firms have recently issued reports on MHK. Royal Bank of Canada increased their price objective on shares of Mohawk Industries from $134.00 to $154.00 and gave the company an “underperform” rating in a research note on Monday, May 3rd. Truist increased their price objective on shares of Mohawk Industries from $220.00 to $236.00 in a research note on Monday, May 3rd. Wells Fargo & Company began coverage on shares of Mohawk Industries in a research note on Thursday, July 15th. They set an “equal weight” rating and a $213.00 price objective on the stock. Loop Capital increased their price objective on shares of Mohawk Industries from $170.00 to $190.00 and gave the company a “hold” rating in a research note on Tuesday, April 20th. Finally, Barclays raised their target price on shares of Mohawk Industries from $191.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, April 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $167.13.

Mohawk Industries Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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