Bank of Nova Scotia Purchases 14,867 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Bank of Nova Scotia raised its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 443.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 18,216 shares of the company's stock after acquiring an additional 14,867 shares during the period. Bank of Nova Scotia's holdings in Mohawk Industries were worth $2,080,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Citadel Investment Advisory Inc. boosted its holdings in Mohawk Industries by 0.8% during the first quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock worth $1,467,000 after purchasing an additional 100 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Mohawk Industries by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock worth $3,054,000 after buying an additional 120 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Mohawk Industries by 3.8% in the 1st quarter. M&T Bank Corp now owns 3,315 shares of the company's stock valued at $378,000 after acquiring an additional 122 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Mohawk Industries by 3.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock valued at $457,000 after acquiring an additional 126 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Mohawk Industries by 4.7% during the first quarter. Venturi Wealth Management LLC now owns 2,899 shares of the company's stock worth $331,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock traded up $0.07 during trading on Friday, reaching $120.52. The company's stock had a trading volume of 490,705 shares, compared to its average volume of 942,194. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21. The business's 50-day moving average price is $109.25 and its 200-day moving average price is $110.89. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The firm has a market cap of $7.49 billion, a PE ratio of 16.03, a P/E/G ratio of 2.62 and a beta of 1.28.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.15. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the firm posted $3.00 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

MHK has been the subject of several recent analyst reports. Evercore ISI cut their price objective on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a report on Monday, July 28th. Robert W. Baird lifted their price objective on shares of Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. raised their target price on shares of Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wells Fargo & Company boosted their price target on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $123.00 price objective (up previously from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mohawk Industries has an average rating of "Moderate Buy" and a consensus price target of $140.14.

Insiders Place Their Bets

In other news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the completion of the sale, the chief executive officer directly owned 33,600 shares in the company, valued at approximately $4,059,216. This represents a 32.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Suzanne L. Helen sold 2,500 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.60, for a total value of $301,500.00. Following the completion of the transaction, the insider owned 91,084 shares in the company, valued at $10,984,730.40. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. 17.40% of the stock is owned by company insiders.

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.