Meeder Asset Management Inc. Trims Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Meeder Asset Management Inc. decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 87.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,254 shares of the company’s stock after selling 71,868 shares during the quarter. Meeder Asset Management Inc.’s holdings in Mohawk Industries were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. bought a new stake in Mohawk Industries during the 4th quarter worth approximately $41,000. Allworth Financial LP grew its position in shares of Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company’s stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Huntington National Bank increased its holdings 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 purchasing an additional 119 shares during the period. Mufg Securities Americas Inc. purchased a new stake in shares of Mohawk Industries in the fourth quarter worth $92,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Mohawk Industries during the fourth quarter valued at $114,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock opened at $121.34 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The business’s 50 day simple moving average is $106.54 and its two-hundred day simple moving average is $111.42. The stock has a market capitalization of $7.59 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 4.46 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.15. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the business earned $3.00 earnings per share. The business’s revenue was up .0% on a year-over-year basis. Analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MHK shares. Evercore ISI decreased their target price on Mohawk Industries from $124.00 to $123.00 and set an “in-line” rating on the stock in a research note on Monday. Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Wells Fargo & Company lifted their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Barclays increased their price target on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They set a “hold” rating and a $121.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

Insider Transactions at Mohawk Industries

In other news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the completion of the transaction, the chief executive officer directly owned 33,600 shares of the company’s stock, valued at approximately $4,059,216. This represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.40% of the stock is currently owned by company 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.