ForthRight Wealth Management LLC Purchases New Shares in Mohawk Industries, Inc. (NYSE:MHK)

ForthRight Wealth Management LLC purchased a new stake in Mohawk Industries, Inc. (NYSE:MHKFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,250 shares of the company’s stock, valued at approximately $233,000.

Several other large investors have also added to or reduced their stakes in MHK. Shapiro Capital Management LLC bought a new stake in Mohawk Industries in the first quarter valued at $96,936,000. Pacer Advisors Inc. boosted its holdings in Mohawk Industries by 1,152.0% in the fourth quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock valued at $82,462,000 after acquiring an additional 733,097 shares in the last quarter. Norges Bank purchased a new position in Mohawk Industries during the fourth quarter valued at $49,448,000. Ariel Investments LLC lifted its position in Mohawk Industries by 26.8% during the first quarter. Ariel Investments LLC now owns 1,723,343 shares of the company’s stock valued at $214,040,000 after buying an additional 364,085 shares during the period. Finally, Invesco Ltd. lifted its position in Mohawk Industries by 26.6% during the first quarter. Invesco Ltd. now owns 1,039,949 shares of the company’s stock valued at $129,161,000 after buying an additional 218,505 shares during the period. Institutional investors own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MHK. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. The Goldman Sachs Group raised their price objective on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Barclays raised their price objective on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Wells Fargo & Company lowered their price objective on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price target for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Mohawk Industries has an average rating of “Hold” and a consensus price target of $117.56.

Check Out Our Latest Analysis on MHK

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.20% of the stock is owned by corporate insiders.

Mohawk Industries Trading Up 1.0 %

MHK opened at $126.42 on Thursday. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The stock has a 50-day moving average price of $116.93 and a 200-day moving average price of $99.76. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHKGet Free Report) last released its quarterly earnings data on Friday, February 9th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $1.32 EPS. Mohawk Industries’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.59 EPS for the current fiscal year.

Mohawk Industries Profile

(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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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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