Assenagon Asset Management S.A. Raises Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Assenagon Asset Management S.A. increased its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,012 shares of the company's stock after acquiring an additional 2,477 shares during the period. Assenagon Asset Management S.A. owned about 0.08% of Mohawk Industries worth $5,825,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Choreo LLC purchased a new stake in Mohawk Industries in the fourth quarter worth $258,000. Apollon Wealth Management LLC grew its holdings in shares of Mohawk Industries by 71.0% during the 4th quarter. Apollon Wealth Management LLC now owns 2,575 shares of the company's stock worth $307,000 after acquiring an additional 1,069 shares during the period. Empowered Funds LLC lifted its stake in shares of Mohawk Industries by 49.6% in the 4th quarter. Empowered Funds LLC now owns 3,405 shares of the company's stock valued at $406,000 after purchasing an additional 1,129 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Mohawk Industries by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 119,111 shares of the company's stock valued at $13,807,000 after purchasing an additional 6,030 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Mohawk Industries by 24.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,248 shares of the company's stock worth $148,000 after purchasing an additional 245 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MHK has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of 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. Royal Bank of Canada reduced their price objective on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research report on Monday, May 5th. 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. Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target for the company. Finally, Barclays decreased their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Seven equities research 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's stock. According to data from MarketBeat, Mohawk Industries presently has an average rating of "Moderate Buy" and a consensus target price of $140.00.

Mohawk Industries Price Performance

Shares of NYSE:MHK traded up $1.32 during trading on Monday, hitting $102.75. 65,017 shares of the company's stock were exchanged, compared to its average volume of 758,585. The business's 50-day simple moving average is $104.16 and its 200 day simple moving average is $114.66. 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 52-week low of $96.24 and a 52-week high of $164.29. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.44 and a beta of 1.19.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Mohawk Industries's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. As a group, equities analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

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.