Mohawk Industries, Inc. (NYSE:MHK) Stake Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,933 shares of the company’s stock after selling 121 shares during the period. Pictet Asset Management Holding SA’s holdings in Mohawk Industries were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Contravisory Investment Management Inc. boosted its position in Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after acquiring an additional 121 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Mohawk Industries by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after purchasing an additional 130 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Mohawk Industries by 11.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,518 shares of the company’s stock valued at $244,000 after buying an additional 161 shares in the last quarter. CIBC Asset Management Inc increased its stake in Mohawk Industries by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 7,816 shares of the company’s stock valued at $931,000 after buying an additional 190 shares during the period. Finally, Public Sector Pension Investment Board raised its position in shares of Mohawk Industries by 2.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,165 shares of the company’s stock worth $1,473,000 after buying an additional 200 shares in the last quarter. 78.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 2.1 %

Mohawk Industries stock opened at $105.55 on Friday. Mohawk Industries, Inc. has a 52 week low of $100.56 and a 52 week 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. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a 50 day moving average price of $117.26 and a 200 day moving average price of $130.85.

Mohawk Industries (NYSE:MHK) last issued 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 return on equity of 8.04% and a net margin of 4.78%. Research analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Bank of America lowered their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Evercore ISI dropped their price objective on 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. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Wednesday, January 8th. The Goldman Sachs Group lowered their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays cut their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $145.07.

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.