Wealth Enhancement Advisory Services LLC Acquires 1,268 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Wealth Enhancement Advisory Services LLC lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 32.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,174 shares of the company’s stock after buying an additional 1,268 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Mohawk Industries were worth $591,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Parkside Investments LLC boosted its position in Mohawk Industries by 14.3% in the 1st quarter. Parkside Investments LLC now owns 8,000 shares of the company’s stock valued at $913,000 after buying an additional 1,000 shares during the period. CX Institutional purchased a new stake in Mohawk Industries in the 1st quarter valued at about $171,000. Assenagon Asset Management S.A. boosted its position in Mohawk Industries by 5.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 51,012 shares of the company’s stock valued at $5,825,000 after buying an additional 2,477 shares during the period. SG Americas Securities LLC boosted its position in Mohawk Industries by 2,190.2% in the 1st quarter. SG Americas Securities LLC now owns 29,819 shares of the company’s stock valued at $3,405,000 after buying an additional 28,517 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Mohawk Industries by 7.4% in the 1st quarter. GAMMA Investing LLC now owns 2,720 shares of the company’s stock worth $311,000 after purchasing an additional 188 shares during the period. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Trading Down 0.4%

NYSE:MHK opened at $110.84 on Friday. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The firm has a 50 day moving average of $104.13 and a 200 day moving average of $112.07. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 4.28 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. Mohawk Industries’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MHK shares. Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price target for the company. Royal Bank Of Canada lowered their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. lowered their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Finally, Barclays lowered their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.00.

Mohawk Industries Company Profile

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.