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

Lazard Asset Management LLC increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 2,257.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,432 shares of the company's stock after buying an additional 17,650 shares during the quarter. Lazard Asset Management LLC's holdings in Mohawk Industries were worth $2,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MHK. Norges Bank bought a new position in shares of Mohawk Industries during the 4th quarter worth approximately $61,171,000. Massachusetts Financial Services Co. MA lifted its position in shares of Mohawk Industries by 35.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock worth $162,793,000 after buying an additional 354,656 shares during the period. American Century Companies Inc. lifted its position in shares of Mohawk Industries by 48.7% during the 4th quarter. American Century Companies Inc. now owns 958,818 shares of the company's stock worth $114,224,000 after buying an additional 313,897 shares during the period. Invesco Ltd. lifted its position in shares of Mohawk Industries by 16.3% during the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock worth $205,545,000 after buying an additional 241,448 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Mohawk Industries during the 4th quarter worth approximately $27,519,000. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Trading Down 1.2%

Shares of Mohawk Industries stock traded down $1.20 during trading on Friday, reaching $101.12. 375,688 shares of the company were exchanged, compared to its average volume of 752,387. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The business has a 50-day moving average price of $107.16 and a 200-day moving average price of $119.05. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results 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 firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The company's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 earnings per share. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Loop Capital dropped their price target on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a report on Monday, February 10th. Bank of America dropped their price target on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Robert W. Baird dropped their price target on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Finally, Wells Fargo & Company lowered their target price on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Seven equities research 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 has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated 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 directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 17.40% of the company's stock.

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.