Mufg Securities Americas Inc. Takes $92,000 Position in Mohawk Industries, Inc. (NYSE:MHK)

Mufg Securities Americas Inc. bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 773 shares of the company’s stock, valued at approximately $92,000.

Several other institutional investors have also recently added to or reduced their stakes in MHK. Norges Bank purchased a new stake in Mohawk Industries during the fourth quarter worth approximately $61,171,000. Millennium Management LLC lifted its stake in Mohawk Industries by 66.2% during the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company’s stock worth $107,017,000 after purchasing an additional 357,687 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock worth $162,793,000 after purchasing an additional 354,656 shares during the last quarter. American Century Companies Inc. lifted its stake in Mohawk Industries by 48.7% during the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock worth $114,224,000 after purchasing an additional 313,897 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Mohawk Industries by 16.3% during the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock worth $205,545,000 after purchasing an additional 241,448 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MHK. StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Evercore ISI cut their price target on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. cut their price target on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird cut their price target on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Finally, Loop Capital cut their price target on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

Mohawk Industries Trading Up 0.4%

NYSE:MHK opened at $108.15 on Friday. The firm has a market cap of $6.76 billion, a P/E ratio of 13.30, a PEG ratio of 1.44 and a beta of 1.24. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $108.11 and its 200-day simple moving average is $120.05. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $2.53 billion for 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 company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 earnings per share. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

About Mohawk Industries

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.