Ethic Inc. Acquires 1,567 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Ethic Inc. boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 53.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,506 shares of the company’s stock after acquiring an additional 1,567 shares during the quarter. Ethic Inc.’s holdings in Mohawk Industries were worth $537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MHK. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries during the 4th quarter valued at $41,000. R Squared Ltd bought a new position in shares of Mohawk Industries during the 4th quarter valued at $66,000. Huntington National Bank lifted its holdings in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after buying an additional 119 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Mohawk Industries by 233.0% during the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $85,000 after buying an additional 501 shares during the period. Finally, Stonebridge Financial Group LLC bought a new position in shares of Mohawk Industries during the 4th quarter valued at $88,000. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Trading Up 0.4%

Shares of Mohawk Industries stock opened at $107.73 on Friday. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.44 and a beta of 1.24. The business has a 50-day moving average price of $108.20 and a 200-day moving average price of $120.33. 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 twelve month low of $96.24 and a twelve month high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 earnings per share. Equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MHK shares. Loop Capital lowered their price target on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Raymond James restated a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a research note on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price objective for the company. StockNews.com lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Finally, Royal Bank of Canada reduced their price objective on Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.00.

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. 17.40% of the stock is owned by insiders.

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.