OLD National Bancorp IN Sells 2,749 Shares of Mohawk Industries, Inc. (NYSE:MHK)

OLD National Bancorp IN decreased its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 41.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,956 shares of the company’s stock after selling 2,749 shares during the period. OLD National Bancorp IN’s holdings in Mohawk Industries were worth $409,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after purchasing an additional 143 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after purchasing an additional 244 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Mohawk Industries during the 4th quarter worth $101,000. Finally, Fifth Third Bancorp boosted its stake in Mohawk Industries by 17.3% in the third quarter. Fifth Third Bancorp now owns 1,901 shares of the company’s stock valued at $163,000 after buying an additional 281 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the topic of several research analyst reports. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Barclays raised their price objective on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Wells Fargo & Company reduced their price objective on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, January 22nd. Finally, TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.75.

Mohawk Industries Stock Down 1.8 %

Shares of MHK opened at $111.40 on Thursday. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. The business has a 50-day moving average of $119.09 and a 200-day moving average of $102.74.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $1.32 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Mohawk Industries, Inc. will post 9.56 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.10% of the stock is owned by corporate insiders.

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.