Cerity Partners LLC Acquires 3,468 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Cerity Partners LLC boosted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 133.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,068 shares of the company's stock after acquiring an additional 3,468 shares during the quarter. Cerity Partners LLC's holdings in Mohawk Industries were worth $693,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new stake in shares of Mohawk Industries in the 4th quarter valued at $41,000. Huntington National Bank boosted its stake in shares of Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after purchasing an additional 119 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Mohawk Industries by 36.2% in the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after purchasing an additional 158 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of Mohawk Industries in the 4th quarter valued at $92,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Mohawk Industries in the 4th quarter valued at $114,000. 78.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MHK has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective on the stock. Barclays cut their target price 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. JPMorgan Chase & Co. cut their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. 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 on the stock in a research note on Monday, May 5th. Finally, Wells Fargo & Company increased 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 note on Tuesday, July 8th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Mohawk Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.71.

Mohawk Industries Trading Up 4.3%

NYSE:MHK traded up $5.03 during trading hours on Friday, hitting $121.03. The company had a trading volume of 2,289,864 shares, compared to its average volume of 745,594. The company has a market capitalization of $7.57 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 4.29 and a beta of 1.18. The stock has a 50-day moving average price of $105.75 and a 200 day moving average price of $111.41. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. 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 released its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.15. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.42%. The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 earnings per share. On average, equities research analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal 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.