Rafferty Asset Management LLC Raises Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Rafferty Asset Management LLC lifted its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,442 shares of the company's stock after buying an additional 3,528 shares during the period. Rafferty Asset Management LLC's holdings in Mohawk Industries were worth $2,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new position in shares of Mohawk Industries in the 4th quarter worth approximately $41,000. R Squared Ltd purchased a new position in shares of Mohawk Industries in the 4th quarter worth approximately $66,000. Huntington National Bank grew its position in shares of Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after buying an additional 119 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $85,000 after buying an additional 501 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in Mohawk Industries during the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 78.98% of the company's stock.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 17.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MHK shares. 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 research note on Tuesday, May 6th. Evercore ISI cut their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. Barclays cut their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Raymond James restated a "strong-buy" rating and set a $165.00 price target (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $140.00.

Mohawk Industries Stock Down 0.6%

NYSE:MHK opened at $107.57 on Tuesday. The firm has a market capitalization of $6.73 billion, a P/E ratio of 13.23, a PEG ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company's fifty day moving average price is $108.00 and its 200-day moving average price is $119.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12.

Mohawk Industries (NYSE:MHK - Get Free Report) last released 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. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The business's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 earnings per share. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Mohawk Industries 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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