Tabor Asset Management LP lessened its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 43.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,083 shares of the company's stock after selling 51,894 shares during the period. Mohawk Industries accounts for about 2.0% of Tabor Asset Management LP's investment portfolio, making the stock its 7th biggest holding. Tabor Asset Management LP owned 0.11% of Mohawk Industries worth $7,774,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MHK. Norges Bank bought a new stake in Mohawk Industries during the fourth quarter worth about $61,171,000. Millennium Management LLC raised its stake in Mohawk Industries by 66.2% in the 4th quarter. Millennium Management LLC now owns 898,322 shares of the company's stock worth $107,017,000 after purchasing an additional 357,687 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 acquiring an additional 354,656 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Mohawk Industries by 48.7% in the 4th quarter. American Century Companies Inc. now owns 958,818 shares of the company's stock worth $114,224,000 after purchasing an additional 313,897 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Mohawk Industries by 12,165.8% in the 1st quarter. GAMMA Investing LLC now owns 310,570 shares of the company's stock worth $35,461,000 after purchasing an additional 308,038 shares during the period. Institutional investors own 78.98% of the company's stock.
Mohawk Industries Stock Performance
NYSE MHK traded down $0.65 during trading hours on Thursday, hitting $116.01. 498,557 shares of the company's stock traded hands, compared to its average volume of 786,450. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The firm has a market capitalization of $7.25 billion, a P/E ratio of 15.17, a P/E/G ratio of 4.49 and a beta of 1.18. The business's fifty day moving average price is $105.58 and its two-hundred day moving average price is $111.42.
Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.56 billion. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. The business's revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 earnings per share. Equities research analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have recently commented on MHK shares. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Wells Fargo & Company upped their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Barclays cut their price objective 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. Royal Bank Of Canada lowered their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.71.
Read Our Latest Analysis on Mohawk Industries
About Mohawk Industries
(
Free Report)
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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