By otakuyassine3@gmail.com 
Apollon Wealth Management LLC lifted its stake in Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 71.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,575 shares of the company’s stock after acquiring an additional 1,069 shares during the period. Apollon Wealth Management LLC’s holdings in Mohawk Industries were worth $307,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of Mohawk Industries by 8.8% in the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after buying an additional 6,863 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after purchasing an additional 74,123 shares during the last quarter. Natixis Advisors LLC increased its stake in Mohawk Industries by 19.8% during the third quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after acquiring an additional 14,480 shares during the last quarter. Pacer Advisors Inc. increased its stake in Mohawk Industries by 106.7% during the fourth quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock worth $984,000 after acquiring an additional 4,264 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Mohawk Industries during the third quarter worth $1,935,000. 78.98% of the stock is owned by institutional investors.
Mohawk Industries Stock Up 1.1 %
Shares of MHK stock opened at $121.05 on Friday. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.60 and a beta of 1.41. Mohawk Industries, Inc. has a 12-month low of $104.88 and a 12-month high of $164.29. The firm has a fifty day moving average of $122.89 and a 200-day moving average of $139.64. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.
Mohawk Industries (NYSE:MHK – Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. As a group, equities research analysts predict that Mohawk Industries, Inc. will post 10.71 earnings per share for the current fiscal year.
Insider Activity at Mohawk Industries
In other news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Evercore ISI reduced their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday, February 10th. Royal Bank of Canada cut their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $146.92.
View Our Latest Analysis on MHK
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.
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