Algert Global LLC Increases Holdings in Mohawk Industries, Inc. (NYSE:MHK)

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

Several other institutional investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries in the 3rd quarter worth $55,000. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the fourth quarter worth about $41,000. R Squared Ltd bought a new stake in Mohawk Industries during the 4th quarter valued at approximately $66,000. Huntington National Bank grew its holdings in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after acquiring an additional 119 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $85,000 after acquiring an additional 501 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Shares of MHK stock traded up $1.25 during mid-day trading on Friday, reaching $106.36. 784,706 shares of the company's stock traded hands, compared to its average volume of 749,993. The firm has a market capitalization of $6.65 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The firm has a 50 day moving average price of $108.83 and a two-hundred day moving average price of $121.22. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. The company had revenue of $2.53 billion for 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 revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 EPS. On average, research analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 17.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Mohawk Industries in a research report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price objective for the company. StockNews.com cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Loop Capital dropped 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. Barclays dropped their target price on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Finally, Wells Fargo & Company lowered their price target on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

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.