Norges Bank acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 513,484 shares of the company's stock, valued at approximately $61,171,000. Norges Bank owned 0.81% of Mohawk Industries at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in MHK. UniSuper Management Pty Ltd boosted its holdings in shares of Mohawk Industries by 43.9% during the fourth quarter. UniSuper Management Pty Ltd now owns 12,393 shares of the company's stock valued at $1,476,000 after acquiring an additional 3,778 shares during the period. JPMorgan Chase & Co. lifted its position in Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock valued at $383,076,000 after purchasing an additional 191,077 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Mohawk Industries during the 4th quarter valued at about $294,000. Vanguard Group Inc. grew its position in Mohawk Industries by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock worth $742,154,000 after purchasing an additional 20,327 shares during the last quarter. Finally, LPL Financial LLC grew its position in Mohawk Industries by 11.3% in the 4th quarter. LPL Financial LLC now owns 12,569 shares of the company's stock worth $1,497,000 after purchasing an additional 1,273 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.
Mohawk Industries Trading Down 3.4 %
Shares of NYSE MHK traded down $3.45 during mid-day trading on Tuesday, hitting $98.72. 752,787 shares of the company traded hands, compared to its average volume of 732,991. 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 1 year low of $97.34 and a 1 year high of $164.29. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.44 and a beta of 1.23. The business has a 50 day moving average of $115.68 and a two-hundred day moving average of $129.64.
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, beating analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently issued reports on MHK. Bank of America reduced 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. JPMorgan Chase & Co. reduced their price target on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on Mohawk Industries in a report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price target on the stock. Raymond James reaffirmed a "strong-buy" rating and issued a $165.00 price objective (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Finally, Barclays lowered their target price on shares of Mohawk Industries from $125.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $144.36.
View Our Latest Report on MHK
Insiders Place Their Bets
In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 17.10% of the company's stock.
Mohawk Industries Company Profile
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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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