Algert Global LLC Grows Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Algert Global LLC raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 42.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,715 shares of the company's stock after acquiring an additional 10,725 shares during the quarter. Algert Global LLC owned approximately 0.06% of Mohawk Industries worth $4,255,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Mohawk Industries by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock valued at $742,154,000 after buying an additional 20,327 shares during the period. JPMorgan Chase & Co. increased its holdings in Mohawk Industries by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock worth $383,076,000 after purchasing an additional 191,077 shares during the period. Invesco Ltd. boosted its stake in shares of Mohawk Industries by 16.3% in the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock valued at $205,545,000 after buying an additional 241,448 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Mohawk Industries by 35.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock worth $162,793,000 after acquiring an additional 354,656 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Mohawk Industries by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock valued at $154,488,000 after purchasing an additional 22,736 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MHK has been the subject of several recent analyst reports. Evercore ISI decreased their target price on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. Robert W. Baird dropped their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Wells Fargo & Company reduced their target price on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Barclays dropped their price target on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the 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 sale, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.40% of the company's stock.

Mohawk Industries Price Performance

Shares of NYSE:MHK traded up $4.22 on Monday, reaching $110.53. 292,054 shares of the company were exchanged, compared to its average volume of 749,363. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company has a 50-day moving average of $108.83 and a 200-day moving average of $120.79. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued 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 company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the company posted $1.86 earnings per share. Equities analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.