Mohawk Industries, Inc. (NYSE:MHK) Stock Holdings Lifted by QSM Asset Management Ltd

QSM Asset Management Ltd lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 25.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 63,566 shares of the company's stock after buying an additional 12,700 shares during the quarter. Mohawk Industries makes up 5.4% of QSM Asset Management Ltd's portfolio, making the stock its 11th biggest position. QSM Asset Management Ltd owned approximately 0.10% of Mohawk Industries worth $7,160,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mohawk Industries by 13.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock worth $787,000 after buying an additional 831 shares during the last quarter. KG&L Capital Management LLC bought a new position in shares of Mohawk Industries in the 1st quarter worth about $254,000. Steph & Co. lifted its position in shares of Mohawk Industries by 61.9% in the 1st quarter. Steph & Co. now owns 1,938 shares of the company's stock worth $221,000 after buying an additional 741 shares during the last quarter. Moran Wealth Management LLC bought a new position in shares of Mohawk Industries in the 1st quarter worth about $4,021,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of Mohawk Industries by 22.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 1,527 shares of the company's stock worth $174,000 after buying an additional 279 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MHK. JPMorgan Chase & Co. cut 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 report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective on the stock. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. 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. Finally, Wells Fargo & Company cut their price objective on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Seven 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $140.00.

Mohawk Industries Stock Up 1.5%

MHK stock opened at $104.92 on Friday. 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 $6.56 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 3.99 and a beta of 1.19. The firm's 50-day moving average is $103.70 and its two-hundred day moving average is $112.71. 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 (NYSE:MHK - Get Free Report) last released 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. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. Mohawk Industries's revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 EPS. On average, analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.