Townsend & Associates Inc Has $34.38 Million Stake in Mohawk Industries, Inc. (NYSE:MHK)

Townsend & Associates Inc boosted its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 263,143 shares of the company's stock after acquiring an additional 3,078 shares during the quarter. Mohawk Industries comprises about 3.5% of Townsend & Associates Inc's holdings, making the stock its 9th largest holding. Townsend & Associates Inc owned approximately 0.42% of Mohawk Industries worth $34,382,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MHK. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries in the third quarter worth about $36,000. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries during the 3rd quarter worth approximately $55,000. Blue Trust Inc. raised its position in shares of Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company's stock valued at $58,000 after purchasing an additional 167 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Mohawk Industries during the 3rd quarter valued at approximately $61,000. Finally, Versant Capital Management Inc grew its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MHK. Evercore ISI reduced their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Barclays cut their price objective on Mohawk Industries from $130.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Wolfe Research upgraded Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their price target on Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mohawk Industries presently has an average rating of "Moderate Buy" and an average price target of $146.92.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the completion of the transaction, the insider now owns 104,084 shares of the company's stock, valued at approximately $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 in the last three months. 17.10% of the stock is owned by company insiders.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock traded down $0.28 during trading on Wednesday, hitting $118.49. 519,723 shares of the stock were exchanged, compared to its average volume of 792,446. The stock has a market cap of $7.42 billion, a PE ratio of 14.57, a P/E/G ratio of 1.44 and a beta of 1.41. The stock's fifty day moving average is $121.34 and its 200 day moving average is $137.85. Mohawk Industries, Inc. has a 12 month low of $104.88 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.95 EPS 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%. As a group, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

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.