Dimensional Fund Advisors LP Buys 292,661 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Dimensional Fund Advisors LP grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 10.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,036,545 shares of the company's stock after acquiring an additional 292,661 shares during the period. Dimensional Fund Advisors LP owned about 4.75% of Mohawk Industries worth $344,903,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MHK. Massachusetts Financial Services Co. MA bought a new position in shares of Mohawk Industries during the 2nd quarter valued at approximately $85,997,000. Norges Bank bought a new position in Mohawk Industries in the 4th quarter worth approximately $68,050,000. Victory Capital Management Inc. boosted its holdings in Mohawk Industries by 1,464.0% in the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company's stock worth $25,825,000 after buying an additional 212,820 shares during the period. Brandes Investment Partners LP boosted its holdings in Mohawk Industries by 22.4% in the 4th quarter. Brandes Investment Partners LP now owns 816,138 shares of the company's stock worth $84,470,000 after buying an additional 149,370 shares during the period. Finally, Heartland Advisors Inc. boosted its holdings in Mohawk Industries by 36.3% in the 1st quarter. Heartland Advisors Inc. now owns 401,538 shares of the company's stock worth $52,557,000 after buying an additional 107,030 shares during the period. 78.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MHK. Royal Bank of Canada raised their price objective on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a "sector perform" rating in a report on Monday, July 29th. Robert W. Baird raised their price objective on shares of Mohawk Industries from $132.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. Raymond James upgraded shares of Mohawk Industries from a "market perform" rating to a "strong-buy" rating and set a $140.00 target price on the stock in a research note on Monday, June 10th. Wells Fargo & Company increased their target price on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an "underweight" rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $156.00.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at approximately $17,881,692.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at approximately $17,881,692.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock worth $673,387 in the last 90 days. 17.10% of the stock is owned by company insiders.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock traded down $0.87 on Tuesday, hitting $154.95. 467,341 shares of the company traded hands, compared to its average volume of 701,537. The firm's 50-day simple moving average is $144.86 and its 200 day simple moving average is $127.01. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.90 billion, a P/E ratio of -23.83, a P/E/G ratio of 1.15 and a beta of 1.37. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $164.05.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business's quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $2.76 EPS. Analysts expect that Mohawk Industries, Inc. will post 10 earnings per share for the current fiscal year.

Mohawk Industries 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.