Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Tabor Asset Management LP

Tabor Asset Management LP lowered its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 43.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,083 shares of the company's stock after selling 51,894 shares during the quarter. Mohawk Industries accounts for approximately 2.0% of Tabor Asset Management LP's holdings, making the stock its 7th biggest holding. Tabor Asset Management LP owned about 0.11% of Mohawk Industries worth $7,774,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries during the fourth quarter worth about $41,000. Huntington National Bank raised its stake in Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after buying an additional 119 shares in the last quarter. Allworth Financial LP lifted its holdings in Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after buying an additional 158 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Mohawk Industries in the 4th quarter worth approximately $92,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Mohawk Industries in the 4th quarter valued at approximately $114,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Price Performance

Shares of NYSE MHK traded up $6.06 during midday trading on Tuesday, reaching $115.39. 885,837 shares of the company traded hands, compared to its average volume of 767,118. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.13 and a current ratio of 2.01. The stock's 50-day simple moving average is $105.34 and its 200-day simple moving average is $111.41. The firm has a market cap of $7.22 billion, a PE ratio of 15.10, a PEG ratio of 4.34 and a beta of 1.18.

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 for 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%. Mohawk Industries's revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 EPS. As a group, equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MHK. JPMorgan Chase & Co. lowered their price objective on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Wells Fargo & Company boosted their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. Finally, Royal Bank Of Canada cut their price target on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.71.

Mohawk Industries Company 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.