Wells Fargo & Company MN Sells 8,689 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Wells Fargo & Company MN lowered its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,644 shares of the company's stock after selling 8,689 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of Mohawk Industries worth $9,607,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at approximately $55,000. Versant Capital Management Inc increased its stake in Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company's stock valued at $64,000 after acquiring an additional 223 shares during the last quarter. R Squared Ltd bought a new position in Mohawk Industries in the fourth quarter valued at approximately $66,000. Huntington National Bank raised its position in Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after purchasing an additional 119 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Mohawk Industries by 233.0% during the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $85,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MHK shares. Evercore ISI dropped their price objective on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research report on Monday, February 10th. StockNews.com cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Robert W. Baird decreased 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. Wolfe Research raised Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Barclays lowered their target price on Mohawk Industries from $125.00 to $115.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Seven 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 company. According to MarketBeat, Mohawk Industries has an average rating of "Moderate Buy" and an average price target of $142.57.

Mohawk Industries Trading Up 4.2 %

NYSE:MHK traded up $4.17 on Tuesday, reaching $104.14. 550,156 shares of the stock traded hands, compared to its average volume of 736,991. 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 1-year low of $96.24 and a 1-year high of $164.29. The company's 50 day moving average is $112.06 and its 200-day moving average is $125.73. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.78% and a return on equity of 8.04%. Equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm's 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 owns 93,584 shares of the company's stock, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 17.40% 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.