Bailard Inc. Invests $514,000 in Mohawk Industries, Inc. (NYSE:MHK)

Bailard Inc. bought a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,504 shares of the company's stock, valued at approximately $514,000.

A number of other institutional investors have also added to or reduced their stakes in MHK. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the fourth quarter worth about $41,000. Huntington National Bank increased 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 purchasing an additional 119 shares in the last quarter. Allworth Financial LP increased its stake in shares of Mohawk Industries by 36.2% during the first quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Mufg Securities Americas Inc. bought a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $92,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $114,000. Institutional investors own 78.98% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on MHK shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. Royal Bank Of Canada cut their target price on shares of 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. Wells Fargo & Company lifted their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Barclays dropped their price target on shares of 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. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.71.

Mohawk Industries Stock Performance

Shares of NYSE:MHK opened at $111.20 on Friday. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 4.34 and a beta of 1.18. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The firm's 50-day moving average is $105.34 and its 200 day moving average is $111.44. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. The firm's revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 EPS. Research 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.

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