Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,470 shares of the company's stock after buying an additional 21,597 shares during the period. Victory Capital Management Inc. owned 0.40% of Mohawk Industries worth $28,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MHK. Norges Bank purchased a new stake in Mohawk Industries in the fourth quarter valued at $61,171,000. Millennium Management LLC increased its position in shares of Mohawk Industries by 66.2% during the fourth 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 increased its position in shares of Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock worth $162,793,000 after purchasing an additional 354,656 shares in the last quarter. American Century Companies Inc. lifted its holdings 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 valued at $114,224,000 after purchasing an additional 313,897 shares during the last quarter. Finally, GAMMA Investing LLC boosted 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 valued at $35,461,000 after purchasing an additional 308,038 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

MHK traded up $1.09 during trading on Wednesday, reaching $116.19. The company's stock had a trading volume of 296,061 shares, compared to its average volume of 764,072. 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 company's fifty day moving average price is $105.40 and its 200-day moving average price is $111.38. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 4.27 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. Mohawk Industries's quarterly revenue was down 5.7% on a year-over-year basis. On average, equities analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MHK. Wells Fargo & Company lifted their price target on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. 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 report on Monday, May 5th. Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They set a "hold" rating and a $121.00 price target for the company. Finally, 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 research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average price target 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.