Mohawk Industries, Inc. (NYSE:MHK) is RK Asset Management LLC's 10th Largest Position

RK Asset Management LLC cut its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 7.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,473 shares of the company's stock after selling 3,619 shares during the quarter. Mohawk Industries makes up approximately 4.7% of RK Asset Management LLC's holdings, making the stock its 10th largest holding. RK Asset Management LLC owned about 0.07% of Mohawk Industries worth $5,078,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Mohawk Industries during the 4th quarter worth approximately $61,171,000. Millennium Management LLC increased its position in Mohawk Industries by 66.2% in the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company's stock worth $107,017,000 after buying an additional 357,687 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Mohawk Industries by 35.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock valued at $162,793,000 after buying an additional 354,656 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Mohawk Industries by 48.7% during the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company's stock valued at $114,224,000 after acquiring an additional 313,897 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of Mohawk Industries by 394.5% during the fourth quarter. Two Sigma Investments LP now owns 313,547 shares of the company's stock worth $37,353,000 after acquiring an additional 250,145 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares of the company's stock, valued at $10,616,168.96. This trade represents a 10.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 17.40% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on MHK shares. Wall Street Zen downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Loop Capital cut their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Bank of America decreased their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Evercore ISI dropped their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research report on Monday, February 10th. Finally, 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 for the company. 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's stock. According to data from MarketBeat, Mohawk Industries currently has an average rating of "Moderate Buy" and an average price target of $140.00.

Mohawk Industries Trading Down 1.5%

MHK stock traded down $1.58 during midday trading on Friday, hitting $100.55. The company had a trading volume of 777,440 shares, compared to its average volume of 755,594. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average price is $105.89 and its 200 day moving average price is $117.56. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The firm's revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal 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.