Bank of Montreal Can Trims Position in Mohawk Industries, Inc. (NYSE:MHK)

Bank of Montreal Can trimmed its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 67.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,941 shares of the company's stock after selling 93,926 shares during the period. Bank of Montreal Can owned about 0.07% of Mohawk Industries worth $5,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in Mohawk Industries by 1.5% in the 4th quarter. Russell Investments Group Ltd. now owns 83,807 shares of the company's stock valued at $9,984,000 after acquiring an additional 1,224 shares during the period. Envestnet Asset Management Inc. grew its stake in Mohawk Industries by 7.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 73,000 shares of the company's stock valued at $8,697,000 after buying an additional 5,142 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Mohawk Industries during the 4th quarter valued at $41,000. Landscape Capital Management L.L.C. boosted its holdings in shares of Mohawk Industries by 86.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 25,458 shares of the company's stock worth $3,033,000 after acquiring an additional 11,784 shares during the period. Finally, Bryce Point Capital LLC purchased a new position in shares of Mohawk Industries in the fourth quarter valued at $503,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.40% of the stock is owned by insiders.

Mohawk Industries Trading Up 1.8 %

Shares of NYSE MHK traded up $1.83 during midday trading on Friday, reaching $102.75. The company had a trading volume of 417,383 shares, compared to its average volume of 736,265. The firm's fifty day moving average price is $113.04 and its 200-day moving average price is $127.11. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The stock has a market cap of $6.42 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings data 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, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on MHK shares. StockNews.com lowered Mohawk Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Loop Capital cut their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a report on Monday, February 10th. The Goldman Sachs Group lowered their price objective on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Bank of America dropped their price target 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. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.57.

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.