Mohawk Industries, Inc. (NYSE:MHK) Position Lowered by Toronto Dominion Bank

Toronto Dominion Bank decreased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 58.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,417 shares of the company's stock after selling 14,389 shares during the period. Toronto Dominion Bank's holdings in Mohawk Industries were worth $1,183,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MHK. Wells Fargo & Company MN lifted its position in shares of Mohawk Industries by 4.0% during the fourth quarter. Wells Fargo & Company MN now owns 96,365 shares of the company's stock worth $9,974,000 after purchasing an additional 3,670 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Mohawk Industries by 18.0% in the fourth quarter. Hsbc Holdings PLC now owns 92,569 shares of the company's stock worth $9,596,000 after acquiring an additional 14,150 shares during the last quarter. Allianz Asset Management GmbH bought a new position in Mohawk Industries in the fourth quarter worth about $6,574,000. Treasurer of the State of North Carolina lifted its holdings in Mohawk Industries by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,455 shares of the company's stock worth $2,428,000 after acquiring an additional 230 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in Mohawk Industries by 32,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company's stock worth $67,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is owned by insiders.

Mohawk Industries Price Performance

NYSE MHK opened at $160.76 on Tuesday. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $164.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The firm has a market capitalization of $10.27 billion, a PE ratio of -24.58, a P/E/G ratio of 1.23 and a beta of 1.37. The company's 50 day simple moving average is $151.34 and its 200 day simple moving average is $129.62.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. Wells Fargo & Company raised their target price on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an "underweight" rating in a report on Monday, July 29th. Robert W. Baird raised their price target on shares of Mohawk Industries from $132.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Loop Capital raised their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group raised their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

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.

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