QSM Asset Management Ltd Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

QSM Asset Management Ltd acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 50,866 shares of the company's stock, valued at approximately $6,002,000. Mohawk Industries makes up approximately 5.2% of QSM Asset Management Ltd's holdings, making the stock its 15th biggest position. QSM Asset Management Ltd owned 0.08% of Mohawk Industries as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Resona Asset Management Co. Ltd. acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at approximately $41,000. R Squared Ltd acquired a new stake in Mohawk Industries during the 4th quarter worth approximately $66,000. Huntington National Bank lifted its holdings in 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 purchasing an additional 119 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Mohawk Industries by 233.0% during the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $85,000 after purchasing an additional 501 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in Mohawk Industries during the 4th quarter worth approximately $88,000. 78.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen cut Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Loop Capital lowered their price objective on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Barclays lowered their price objective 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. Bank of America lowered their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Finally, Robert W. Baird lowered their price objective on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Seven equities 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

Mohawk Industries Price Performance

NYSE:MHK traded down $1.58 during trading hours on Friday, hitting $100.55. The company's stock had a trading volume of 777,440 shares, compared to its average volume of 755,594. The stock has a fifty day simple moving average of $105.89 and a 200-day simple moving average of $117.56. The company has a market capitalization of $6.29 billion, a P/E ratio of 12.37, a PEG ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Mohawk Industries's revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. On average, analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Buying and Selling

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

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.