Massachusetts Financial Services Co. MA boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,366,517 shares of the company's stock after buying an additional 354,656 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.16% of Mohawk Industries worth $162,793,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries during the third quarter valued at $55,000. Versant Capital Management Inc lifted its holdings in Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after buying an additional 223 shares during the period. R Squared Ltd bought a new stake in shares of Mohawk Industries in the 4th quarter valued at about $66,000. Jones Financial Companies Lllp increased its stake in shares of Mohawk Industries by 233.0% in the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $85,000 after buying an additional 501 shares during the period. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Mohawk Industries in the fourth quarter worth approximately $88,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.
Mohawk Industries Stock Down 5.8 %
Shares of NYSE:MHK traded down $6.35 during midday trading on Thursday, hitting $102.60. 412,684 shares of the company's stock were exchanged, compared to its average volume of 736,029. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a market cap of $6.42 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The stock has a 50 day moving average price of $115.06 and a 200-day moving average price of $129.16.
Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating 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, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
MHK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They set a "hold" rating and a $121.00 target price for the company. Evercore ISI lowered their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. 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 research report on Monday, February 10th. Raymond James reissued a "strong-buy" rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Finally, Robert W. Baird cut their target price on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.36.
View Our Latest Research Report on MHK
Insider Activity at Mohawk Industries
In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.10% of the stock is owned by insiders.
About Mohawk Industries
(
Free Report)
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.
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