Bank of Nova Scotia Buys Shares of 3,349 Mohawk Industries, Inc. (NYSE:MHK)

Bank of Nova Scotia acquired a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 3,349 shares of the company's stock, valued at approximately $399,000.

Several other hedge funds have also recently added to or reduced their stakes in MHK. Huntington National Bank lifted its stake in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after buying an additional 119 shares during the period. Contravisory Investment Management Inc. lifted its stake 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 worth $680,000 after purchasing an additional 121 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Mohawk Industries by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company's stock valued at $819,000 after purchasing an additional 130 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Mohawk Industries by 11.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,518 shares of the company's stock worth $244,000 after buying an additional 161 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Mohawk Industries by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 7,816 shares of the company's stock worth $931,000 after buying an additional 190 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wolfe Research raised shares of Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Loop Capital lowered their price objective on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group decreased their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, Bank of America cut their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $142.57.

Mohawk Industries Price Performance

MHK traded up $1.83 on Friday, reaching $102.75. The company had a trading volume of 417,383 shares, compared to its average volume of 736,265. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The company has a market capitalization of $6.42 billion, a P/E ratio of 12.64, a PEG ratio of 1.44 and a beta of 1.23. The company has a fifty day moving average of $113.04 and a 200-day moving average of $127.11. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly 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 net margin of 4.78% and a return on equity of 8.04%. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.40% 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.