Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by KBC Group NV

KBC Group NV cut its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 39.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,934 shares of the company's stock after selling 3,269 shares during the quarter. KBC Group NV's holdings in Mohawk Industries were worth $563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. RBA Wealth Management LLC bought a new position in shares of Mohawk Industries during the 1st quarter worth about $3,502,000. QSM Asset Management Ltd lifted its position in shares of Mohawk Industries by 25.0% during the first quarter. QSM Asset Management Ltd now owns 63,566 shares of the company's stock worth $7,160,000 after purchasing an additional 12,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Mohawk Industries by 13.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock worth $787,000 after buying an additional 831 shares in the last quarter. KG&L Capital Management LLC acquired a new stake in Mohawk Industries in the first quarter worth about $254,000. Finally, Steph & Co. raised its stake in shares of Mohawk Industries by 61.9% during the first quarter. Steph & Co. now owns 1,938 shares of the company's stock worth $221,000 after buying an additional 741 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MHK shares. Barclays cut 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 report on Monday, May 5th. Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Royal Bank Of Canada lowered their price target on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

Mohawk Industries Trading Down 0.4%

Shares of Mohawk Industries stock traded down $0.45 during trading on Friday, reaching $110.84. 463,444 shares of the stock were exchanged, compared to its average volume of 767,913. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 4.28 and a beta of 1.18. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29. The stock's fifty day moving average is $104.13 and its 200 day moving average is $112.07. The company has a quick ratio of 1.13, a current ratio of 2.01 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 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The company's revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $1.86 earnings per share. As a group, equities research 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.