QSM Asset Management Ltd Makes New $6 Million Investment in Mohawk Industries, Inc. (NYSE:MHK)

QSM Asset Management Ltd bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 50,866 shares of the company's stock, valued at approximately $6,002,000. Mohawk Industries makes up about 5.2% of QSM Asset Management Ltd's holdings, making the stock its 15th biggest holding. QSM Asset Management Ltd owned 0.08% of Mohawk Industries as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of MHK. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Mohawk Industries in the 4th quarter valued at approximately $1,564,000. Jefferies Financial Group Inc. bought a new position in Mohawk Industries in the fourth quarter worth about $799,000. Forum Financial Management LP bought a new position in Mohawk Industries in the fourth quarter worth about $273,000. Toronto Dominion Bank raised its stake in Mohawk Industries by 2.9% in the fourth quarter. Toronto Dominion Bank now owns 20,997 shares of the company's stock worth $2,501,000 after buying an additional 583 shares in the last quarter. Finally, CSS LLC IL grew its holdings in shares of Mohawk Industries by 67.1% during the fourth quarter. CSS LLC IL now owns 7,245 shares of the company's stock valued at $863,000 after buying an additional 2,910 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on MHK shares. JPMorgan Chase & Co. decreased their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Evercore ISI dropped their price target on shares of 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. Royal Bank of Canada reduced their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a report on Monday, May 5th. Raymond James reaffirmed a "strong-buy" rating and issued a $165.00 price objective (down previously from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Finally, Loop Capital dropped their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction on Friday, March 14th. The shares were 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 legal filing with the SEC, which is available through this link. 17.40% of the stock is owned by corporate insiders.

Mohawk Industries Stock Up 0.6%

Mohawk Industries stock traded up $0.65 during trading on Thursday, reaching $101.98. The stock had a trading volume of 684,580 shares, compared to its average volume of 755,201. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The business has a 50 day moving average price of $106.49 and a 200 day moving average price of $118.14. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The stock has a market cap of $6.38 billion, a PE ratio of 12.54, a P/E/G ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The firm's quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current 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.