Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,773 shares of the company's stock after selling 14,057 shares during the period. Ameriprise Financial Inc. owned 0.29% of Mohawk Industries worth $22,131,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Magnetar Financial LLC raised its stake in Mohawk Industries by 353.1% in the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company's stock valued at $4,659,000 after purchasing an additional 30,477 shares in the last quarter. Sei Investments Co. lifted its stake in Mohawk Industries by 46.3% in the fourth quarter. Sei Investments Co. now owns 91,586 shares of the company's stock valued at $10,911,000 after buying an additional 28,998 shares during the period. Choreo LLC acquired a new stake in Mohawk Industries in the fourth quarter worth $258,000. Townsend & Associates Inc boosted its holdings in Mohawk Industries by 1.2% in the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company's stock worth $34,382,000 after acquiring an additional 3,078 shares in the last quarter. Finally, Sciencast Management LP grew its position in Mohawk Industries by 59.1% in the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company's stock valued at $725,000 after purchasing an additional 2,262 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MHK shares. JPMorgan Chase & Co. decreased their target price on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Evercore ISI reduced their price objective on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. Raymond James reiterated a "strong-buy" rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Finally, StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Seven research 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.00.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction dated 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 directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This trade represents a 10.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.40% of the stock is currently owned by company insiders.

Mohawk Industries Stock Performance

Shares of MHK stock traded up $0.28 during trading on Tuesday, reaching $107.84. 27,029 shares of the company's stock traded hands, compared to its average volume of 752,596. The firm's 50-day moving average is $108.00 and its 200 day moving average is $119.77. 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 market capitalization of $6.74 billion, a P/E ratio of 13.25, a PEG 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 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

About Mohawk Industries

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.