ARGA Investment Management LP Buys 3,760 Shares of Mohawk Industries, Inc. (NYSE:MHK)

ARGA Investment Management LP grew its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 31.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,567 shares of the company's stock after purchasing an additional 3,760 shares during the quarter. ARGA Investment Management LP's holdings in Mohawk Industries were worth $1,777,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. acquired a new position in Mohawk Industries in the fourth quarter worth $41,000. Huntington National Bank lifted its stake in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after acquiring an additional 119 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Mohawk Industries by 233.0% during the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $85,000 after acquiring an additional 501 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of Mohawk Industries during the fourth quarter valued at $92,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Mohawk Industries during the fourth quarter valued at $114,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Trading Up 1.8%

Shares of Mohawk Industries stock traded up $1.98 during trading hours on Tuesday, hitting $109.21. The company's stock had a trading volume of 1,040,279 shares, compared to its average volume of 768,420. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The stock has a 50 day moving average of $104.13 and a 200 day moving average of $111.90. The company has a market capitalization of $6.83 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 4.28 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.01 and a quick ratio of 1.13.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. Mohawk Industries's quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $1.86 earnings per share. Analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MHK. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a research note on Tuesday, April 1st. They set a "hold" rating and a $121.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company increased their target price on Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday. Barclays cut their target price 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. Finally, Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

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.