CIBC Asset Management Inc Raises Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

CIBC Asset Management Inc boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 2.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,816 shares of the company’s stock after acquiring an additional 190 shares during the period. CIBC Asset Management Inc’s holdings in Mohawk Industries were worth $931,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after buying an additional 74,123 shares during the last quarter. FMR LLC raised its position in Mohawk Industries by 52.3% in the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after buying an additional 748,070 shares during the last quarter. State Street Corp raised its position in Mohawk Industries by 1.3% in the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after buying an additional 23,016 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Mohawk Industries by 33.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock worth $162,586,000 after buying an additional 254,779 shares during the last quarter. Finally, Wilsey Asset Management Inc. grew its stake in shares of Mohawk Industries by 4.4% during the 4th quarter. Wilsey Asset Management Inc. now owns 198,514 shares of the company’s stock valued at $23,649,000 after purchasing an additional 8,351 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MHK shares. Wells Fargo & Company cut their price target on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. StockNews.com downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. The Goldman Sachs Group cut their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Loop Capital cut their price target on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Raymond James restated a “strong-buy” rating and set a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Six 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. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the sale, the insider now directly owns 104,084 shares of the company’s stock, valued at $13,126,033.24. This represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 19,078 shares of company stock worth $2,474,347 in the last three months. 17.10% of the stock is owned by company insiders.

Mohawk Industries Trading Down 1.8 %

MHK stock opened at $115.89 on Friday. Mohawk Industries, Inc. has a 1-year low of $104.88 and a 1-year high of $164.29. 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 company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.44 and a beta of 1.41. The business has a 50 day simple moving average of $121.69 and a two-hundred day simple moving average of $138.29.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share 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 anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

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.