Moran Wealth Management LLC Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Moran Wealth Management LLC purchased a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,220 shares of the company's stock, valued at approximately $4,021,000. Moran Wealth Management LLC owned approximately 0.06% of Mohawk Industries at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MHK. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the 4th quarter worth approximately $41,000. Huntington National Bank grew its holdings in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after acquiring an additional 119 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Mohawk Industries by 233.0% during the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $85,000 after acquiring an additional 501 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of Mohawk Industries during the fourth quarter worth $92,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Mohawk Industries in the fourth quarter valued at about $114,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on MHK shares. Barclays lowered their price target on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Royal Bank Of Canada dropped their price target 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. JPMorgan Chase & Co. cut their price target 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. Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a 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 set a "hold" rating and a $121.00 target price on the stock. 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. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

Mohawk Industries Stock Down 1.2%

MHK stock opened at $102.61 on Thursday. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 4.01 and a beta of 1.19. The company has a 50-day moving average of $103.64 and a two-hundred day moving average of $113.10. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.01 and a quick ratio of 1.13.

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, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. The firm's revenue was down 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current 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.

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