Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by River Global Investors LLP

River Global Investors LLP raised its stake in Mohawk Industries, Inc. (NYSE:MHK) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,290 shares of the company’s stock after acquiring an additional 3,476 shares during the period. River Global Investors LLP’s holdings in Mohawk Industries were worth $2,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Huntington National Bank boosted its position in shares of Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares during the period. Allworth Financial LP boosted its holdings in shares of Mohawk Industries by 88.1% in the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after acquiring an additional 244 shares during the period. Signaturefd LLC grew its position in shares of Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after acquiring an additional 128 shares during the last quarter. Byrne Asset Management LLC acquired a new position in shares of Mohawk Industries in the 4th quarter valued at $101,000. Finally, Fifth Third Bancorp raised its position in Mohawk Industries by 17.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,901 shares of the company’s stock valued at $163,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MHK. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Barclays decreased their price objective on Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Royal Bank of Canada increased their price target on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $152.00 in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $121.33.

Insider Transactions at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

Mohawk Industries stock traded up $0.75 during midday trading on Friday, reaching $116.37. The company’s stock had a trading volume of 431,400 shares, compared to its average volume of 674,742. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The stock’s 50 day simple moving average is $119.03 and its 200 day simple moving average is $104.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the business earned $1.75 earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, equities analysts forecast that Mohawk Industries, Inc. will post 9.54 EPS for the current fiscal year.

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.