Cresset Asset Management LLC Has $220,000 Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Cresset Asset Management LLC cut its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 83.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,847 shares of the company's stock after selling 9,053 shares during the period. Cresset Asset Management LLC's holdings in Mohawk Industries were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MHK. Principal Financial Group Inc. raised its position in shares of Mohawk Industries by 4.4% during the third quarter. Principal Financial Group Inc. now owns 61,724 shares of the company's stock worth $9,918,000 after purchasing an additional 2,601 shares during the period. JPMorgan Chase & Co. raised its position in shares of Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock worth $485,983,000 after purchasing an additional 74,123 shares during the period. Ritholtz Wealth Management grew its holdings in shares of Mohawk Industries by 15.1% during the fourth quarter. Ritholtz Wealth Management now owns 6,987 shares of the company's stock valued at $832,000 after buying an additional 915 shares in the last quarter. Polianta Ltd grew its holdings in shares of Mohawk Industries by 23.0% during the fourth quarter. Polianta Ltd now owns 9,100 shares of the company's stock valued at $1,084,000 after buying an additional 1,700 shares in the last quarter. Finally, Olstein Capital Management L.P. grew its holdings in shares of Mohawk Industries by 30.4% during the fourth quarter. Olstein Capital Management L.P. now owns 70,000 shares of the company's stock valued at $8,339,000 after buying an additional 16,300 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. Barclays lowered their price target on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Bank of America lowered their target price on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price on the stock. Seven investment 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.00.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This represents a 10.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.40% of the company's stock.

Mohawk Industries Stock Performance

Shares of NYSE MHK traded down $1.20 during trading hours on Friday, hitting $101.12. 375,688 shares of the company's stock were exchanged, compared to its average volume of 754,162. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.44 and a beta of 1.24. The company's 50-day moving average price is $107.16 and its 200-day moving average price is $118.85.

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 for the quarter, topping the consensus estimate of $1.41 by $0.11. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The firm's revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.