Envestnet Asset Management Inc. Increases Stake in Mohawk Industries, Inc. (NYSE:MHK)

Envestnet Asset Management Inc. lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,000 shares of the company's stock after acquiring an additional 5,142 shares during the period. Envestnet Asset Management Inc. owned 0.12% of Mohawk Industries worth $8,697,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new position in shares of Mohawk Industries in the 4th quarter valued at approximately $41,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Mohawk Industries during the third quarter worth $55,000. Versant Capital Management Inc grew its position in Mohawk Industries by 71.0% in the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company's stock valued at $64,000 after buying an additional 223 shares during the last quarter. R Squared Ltd acquired a new position in Mohawk Industries in the 4th quarter valued at $66,000. Finally, Huntington National Bank raised its position in Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after buying an additional 119 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares of the company's stock, valued at $10,616,168.96. This represents a 10.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 17.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MHK shares. Loop Capital dropped their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Wolfe Research raised Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective for the company. Finally, StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $142.57.

Mohawk Industries Price Performance

Shares of MHK stock traded up $1.55 during trading hours on Wednesday, hitting $105.71. The company's stock had a trading volume of 292,160 shares, compared to its average volume of 735,286. 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, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 1.44 and a beta of 1.23. The business has a fifty day moving average of $112.06 and a 200-day moving average of $125.73.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

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.