Ritholtz Wealth Management Buys 3,718 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Ritholtz Wealth Management lifted its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 53.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,705 shares of the company's stock after purchasing an additional 3,718 shares during the quarter. Ritholtz Wealth Management's holdings in Mohawk Industries were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Mohawk Industries by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock worth $742,154,000 after buying an additional 20,327 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Mohawk Industries by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock valued at $383,076,000 after acquiring an additional 191,077 shares in the last quarter. Invesco Ltd. increased its stake in shares of Mohawk Industries by 16.3% in the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock worth $205,545,000 after acquiring an additional 241,448 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 acquiring an additional 354,656 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Mohawk Industries by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock valued at $154,488,000 after purchasing an additional 22,736 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MHK. Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Barclays dropped their price objective on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada cut their price objective 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. 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. Finally, Wells Fargo & Company cut their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Seven 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's stock. According to data from MarketBeat.com, Mohawk Industries currently has a consensus rating of "Moderate Buy" and an average price target of $140.00.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded down $0.45 during midday trading on Wednesday, hitting $97.98. The company's stock had a trading volume of 1,317,287 shares, compared to its average volume of 766,597. 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 stock's 50 day simple moving average is $104.04 and its 200 day simple moving average is $114.30. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 3.98 and a beta of 1.19. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its earnings results 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 return on equity of 7.68% and a net margin of 4.54%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company earned $1.86 EPS. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share 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.