Meeder Asset Management Inc. Trims Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Meeder Asset Management Inc. lowered its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,122 shares of the company's stock after selling 2,413 shares during the period. Meeder Asset Management Inc. owned about 0.13% of Mohawk Industries worth $9,783,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mark Sheptoff Financial Planning LLC bought a new position in shares of Mohawk Industries during the 3rd quarter valued at $36,000. Wilmington Savings Fund Society FSB acquired a new stake in Mohawk Industries in the 3rd quarter valued at approximately $55,000. True Wealth Design LLC bought a new position in Mohawk Industries in the 3rd quarter worth approximately $61,000. Versant Capital Management Inc grew its stake in shares of Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after acquiring an additional 223 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Mohawk Industries in the 4th quarter valued at $66,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a report on Tuesday. They issued a "hold" rating and a $121.00 price target for the company. Evercore ISI reduced their price objective on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a report on Monday, February 10th. StockNews.com cut Mohawk Industries from a "buy" rating to a "hold" rating in a report on Wednesday. Robert W. Baird reduced their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Finally, Bank of America decreased their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $145.07.

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Mohawk Industries Trading Down 3.3 %

Shares of MHK traded down $3.51 during mid-day trading on Friday, reaching $104.33. 321,896 shares of the company were exchanged, compared to its average volume of 726,863. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock has a market capitalization of $6.53 billion, a PE ratio of 12.79, a PEG ratio of 1.44 and a beta of 1.44. The business has a 50 day simple moving average of $117.66 and a two-hundred day simple moving average of $131.37. Mohawk Industries, Inc. has a 52 week low of $100.65 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share 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, analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction on 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. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.10% of the company's stock.

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.