Deutsche Bank AG Sells 12,719 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Key Points

• Deutsche Bank AG reduced its stake in Mohawk Industries by 2.9%, selling 12,719 shares and now holding a total of 419,319 shares, valued at approximately $47.88 million.
• Multiple institutional investors, including Citadel Investment Advisory and Teachers Retirement System of Kentucky, have increased their holdings in Mohawk Industries during the first quarter, indicating growing interest among institutional investors.
• Research analysts have given Mohawk Industries a consensus rating of "Moderate Buy" with an average price target of $140.14, reflecting positive investor sentiment despite mixed individual ratings from various firms.

Deutsche Bank AG trimmed its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 419,319 shares of the company's stock after selling 12,719 shares during the quarter. Deutsche Bank AG owned approximately 0.67% of Mohawk Industries worth $47,878,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on MHK shares. Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Royal Bank Of Canada restated a "sector perform" rating and set a $123.00 target price (up previously from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. JPMorgan Chase & Co. raised their price target on Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Evercore ISI reduced their price objective on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research report on Monday, July 28th. Finally, Barclays upped their price objective on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $140.14.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $119.98 on Tuesday. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. 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 company has a market capitalization of $7.45 billion, a P/E ratio of 15.95, a PEG ratio of 2.62 and a beta of 1.28. The stock's 50 day moving average is $109.68 and its 200 day moving average is $110.71.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.15. The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The company's quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.00 earnings per share. On average, equities research analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

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

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.

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