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Comerica Bank lowered its stake in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 2.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,693 shares of the company’s stock after selling 216 shares during the quarter. Comerica Bank’s holdings in Mohawk Industries were worth $916,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Huntington National Bank grew its stake in shares of Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after acquiring an additional 119 shares during the period. Contravisory Investment Management Inc. grew its position in Mohawk Industries by 2.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after purchasing an additional 121 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Mohawk Industries by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after buying an additional 130 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Mohawk Industries by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company’s stock valued at $2,748,000 after buying an additional 150 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of 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. Institutional investors own 78.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on MHK. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Raymond James reaffirmed a “strong-buy” rating and set a $165.00 price target (down previously from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Evercore ISI lowered 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. Wells Fargo & Company cut their target price 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. Finally, The Goldman Sachs Group reduced their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.
Check Out Our Latest Stock Analysis on MHK
Mohawk Industries Stock Performance
MHK opened at $110.99 on Tuesday. The company has a 50 day simple moving average of $108.70 and a two-hundred day simple moving average of $120.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The firm has a market cap of $6.94 billion, a P/E ratio of 13.65, a PEG ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29.
Mohawk Industries (NYSE:MHK – Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. Mohawk Industries’s quarterly revenue was down 5.7% compared to the same quarter last year. Equities analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.
Insider Transactions at Mohawk Industries
In related news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. The trade was a 10.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.40% of the company’s stock.
Mohawk Industries 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.
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