Raymond James Financial Inc. Makes New $4.89 Million Investment in Mohawk Industries, Inc. (NYSE:MHK)

Raymond James Financial Inc. acquired a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,054 shares of the company's stock, valued at approximately $4,891,000. Raymond James Financial Inc. owned approximately 0.07% of Mohawk Industries as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MHK. Norges Bank bought a new stake in Mohawk Industries during the 4th quarter worth about $61,171,000. Massachusetts Financial Services Co. MA raised its holdings in Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock worth $162,793,000 after acquiring an additional 354,656 shares in the last quarter. American Century Companies Inc. boosted its position in Mohawk Industries by 48.7% during the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company's stock valued at $114,224,000 after purchasing an additional 313,897 shares during the last quarter. Invesco Ltd. grew its stake in Mohawk Industries by 16.3% in the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock valued at $205,545,000 after purchasing an additional 241,448 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Mohawk Industries by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock worth $383,076,000 after purchasing an additional 191,077 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the company's 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 completion of the sale, the insider now owns 93,584 shares of the company's stock, valued at $10,616,168.96. This 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 through the SEC website. 17.40% of the stock is owned by company insiders.

Mohawk Industries Stock Performance

Shares of MHK traded up $0.29 during midday trading on Tuesday, reaching $107.06. 1,019,632 shares of the stock were exchanged, compared to its average volume of 737,369. The stock's 50 day simple moving average is $111.03 and its 200 day simple moving average is $124.13. The company has a market cap of $6.69 billion, a P/E ratio of 13.17, a PEG ratio of 1.44 and a beta of 1.23. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. 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 (NYSE:MHK - Get Free Report) last issued 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%. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analysts Set New Price Targets

MHK has been the subject of several analyst reports. Robert W. Baird decreased their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Raymond James restated a "strong-buy" rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. JPMorgan Chase & Co. lowered their price target on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Finally, Wolfe Research raised Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.