Wealth Enhancement Advisory Services LLC Sells 2,838 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Wealth Enhancement Advisory Services LLC trimmed its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 42.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,906 shares of the company's stock after selling 2,838 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Mohawk Industries were worth $465,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Magnetar Financial LLC boosted its stake in Mohawk Industries by 353.1% during the 4th quarter. Magnetar Financial LLC now owns 39,108 shares of the company's stock worth $4,659,000 after purchasing an additional 30,477 shares during the period. Sei Investments Co. raised its position in Mohawk Industries by 46.3% during the fourth quarter. Sei Investments Co. now owns 91,586 shares of the company's stock worth $10,911,000 after acquiring an additional 28,998 shares during the last quarter. Choreo LLC acquired a new position in shares of Mohawk Industries in the fourth quarter valued at approximately $258,000. Townsend & Associates Inc raised its position in shares of Mohawk Industries by 1.2% in the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company's stock valued at $34,382,000 after buying an additional 3,078 shares during the last quarter. Finally, Sciencast Management LP raised its position in shares of Mohawk Industries by 59.1% in the fourth quarter. Sciencast Management LP now owns 6,088 shares of the company's stock valued at $725,000 after buying an additional 2,262 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MHK has been the subject of several recent research reports. Wall Street Zen lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Barclays decreased their target price on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Royal Bank of Canada decreased their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft started 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. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Mohawk Industries Stock Down 3.4%

Shares of NYSE MHK traded down $3.52 during mid-day trading on Friday, reaching $101.25. The company had a trading volume of 901,090 shares, compared to its average volume of 761,237. The stock has a fifty day moving average of $104.16 and a two-hundred day moving average of $114.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.44 and a beta of 1.19. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm earned $1.86 earnings per share. The company's revenue for the quarter 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 EPS for the current year.

About Mohawk Industries

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.