KLP Kapitalforvaltning AS Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

KLP Kapitalforvaltning AS bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 11,000 shares of the company's stock, valued at approximately $1,310,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MHK. Cerity Partners LLC acquired a new stake in shares of Mohawk Industries in the third quarter worth $1,935,000. Daiwa Securities Group Inc. boosted its position in Mohawk Industries by 13.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,417 shares of the company's stock worth $388,000 after purchasing an additional 286 shares during the period. Bank of Montreal Can increased its holdings in Mohawk Industries by 64.6% in the 3rd quarter. Bank of Montreal Can now owns 139,867 shares of the company's stock valued at $22,212,000 after purchasing an additional 54,914 shares in the last quarter. FMR LLC raised its position in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company's stock valued at $350,204,000 after purchasing an additional 748,070 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Mohawk Industries by 111.1% during the third quarter. BNP Paribas Financial Markets now owns 129,186 shares of the company's stock worth $20,758,000 after purchasing an additional 67,990 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Down 7.8 %

Shares of NYSE MHK traded down $9.19 during mid-day trading on Thursday, hitting $107.96. The company had a trading volume of 1,518,232 shares, compared to its average volume of 728,407. The company has a market capitalization of $6.76 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. Mohawk Industries, Inc. has a one year low of $104.88 and a one year high of $164.29. The firm has a 50-day simple moving average of $117.66 and a two-hundred day simple moving average of $131.37. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Remove Ads

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, equities analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares of the company's stock, valued at $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 17.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Loop Capital decreased their price objective on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research note on Tuesday. They issued a "hold" rating and a $121.00 price target for the company. The Goldman Sachs Group dropped their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI decreased their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $145.07.

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.