Lazard Asset Management LLC Has $2.19 Million Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Lazard Asset Management LLC boosted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 2,257.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,432 shares of the company's stock after acquiring an additional 17,650 shares during the quarter. Lazard Asset Management LLC's holdings in Mohawk Industries were worth $2,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in Mohawk Industries by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 61,724 shares of the company's stock valued at $9,918,000 after buying an additional 2,601 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock valued at $485,983,000 after acquiring an additional 74,123 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Mohawk Industries by 15.1% during the 4th quarter. Ritholtz Wealth Management now owns 6,987 shares of the company's stock worth $832,000 after purchasing an additional 915 shares during the last quarter. Polianta Ltd raised its holdings in Mohawk Industries by 23.0% during the 4th quarter. Polianta Ltd now owns 9,100 shares of the company's stock worth $1,084,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Olstein Capital Management L.P. lifted its position in Mohawk Industries by 30.4% during the 4th quarter. Olstein Capital Management L.P. now owns 70,000 shares of the company's stock valued at $8,339,000 after purchasing an additional 16,300 shares during the period. Institutional investors and hedge funds own 78.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MHK. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective on the stock. Royal Bank of Canada reduced their price target on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research report on Monday, May 5th. Raymond James reaffirmed a "strong-buy" rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Bank of America lowered their price target on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Seven 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction 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 transaction, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.40% of the stock is currently owned by insiders.

Mohawk Industries Stock Down 0.5%

MHK stock traded down $0.58 during midday trading on Tuesday, hitting $106.98. The company's stock had a trading volume of 428,947 shares, compared to its average volume of 754,692. The company's fifty day moving average price is $107.92 and its 200 day moving average price is $119.68. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month 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 $6.69 billion, a P/E ratio of 13.16, a PEG ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.52 EPS 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 the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Mohawk Industries's revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 EPS. As a group, equities research analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current 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.