Fmr LLC Decreases Stake in Mohawk Industries, Inc. (NYSE:MHK)

Fmr LLC trimmed its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 48.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,120,576 shares of the company’s stock after selling 1,058,934 shares during the quarter. Fmr LLC’s holdings in Mohawk Industries were worth $133,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MHK. HighTower Advisors LLC lifted its position in Mohawk Industries by 36.6% during the third quarter. HighTower Advisors LLC now owns 2,718 shares of the company’s stock valued at $435,000 after purchasing an additional 728 shares during the period. Stifel Financial Corp grew its holdings in shares of Mohawk Industries by 289.3% in the third quarter. Stifel Financial Corp now owns 7,280 shares of the company’s stock worth $1,170,000 after acquiring an additional 5,410 shares during the period. EP Wealth Advisors LLC purchased a new stake in Mohawk Industries during the third quarter valued at $205,000. XTX Topco Ltd boosted its position in Mohawk Industries by 28.6% in the third quarter. XTX Topco Ltd now owns 2,665 shares of the company’s stock worth $428,000 after purchasing an additional 593 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Mohawk Industries during the 3rd quarter valued at about $224,000. Institutional investors own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MHK shares. Wells Fargo & Company cut their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Bank of America lowered their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Robert W. Baird decreased their price objective on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They set a “hold” rating and a $121.00 price target on the stock. Seven 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’s stock. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.36.

Mohawk Industries Stock Up 2.0 %

Shares of MHK stock opened at $105.06 on Monday. The stock has a market cap of $6.57 billion, a P/E ratio of 12.92, a PEG ratio of 1.44 and a beta of 1.23. The company’s fifty day simple moving average is $114.44 and its two-hundred day simple moving average is $128.24. 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, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.10% of the stock is currently owned by insiders.

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.