Ritholtz Wealth Management Grows Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

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

Other hedge funds also recently bought and sold shares of the company. Magnetar Financial LLC raised its holdings in Mohawk Industries by 353.1% in the 4th quarter. Magnetar Financial LLC now owns 39,108 shares of the company's stock valued at $4,659,000 after acquiring an additional 30,477 shares during the last quarter. Sei Investments Co. raised its holdings in Mohawk Industries by 46.3% in the 4th quarter. Sei Investments Co. now owns 91,586 shares of the company's stock valued at $10,911,000 after acquiring an additional 28,998 shares during the last quarter. Townsend & Associates Inc raised its holdings in Mohawk Industries by 1.2% in the 4th quarter. Townsend & Associates Inc now owns 263,143 shares of the company's stock valued at $34,382,000 after acquiring an additional 3,078 shares during the last quarter. Sciencast Management LP raised its holdings in Mohawk Industries by 59.1% in the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company's stock valued at $725,000 after acquiring an additional 2,262 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Mohawk Industries in the 4th quarter valued at about $997,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MHK shares. Wells Fargo & Company cut their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price objective for the company. Royal Bank Of Canada lowered their price objective on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Seven 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. Based on data from MarketBeat.com, Mohawk Industries currently has an average rating of "Moderate Buy" and an average target price of $140.00.

Mohawk Industries Stock Up 1.7%

MHK stock traded up $1.64 during midday trading on Friday, hitting $99.63. The company's stock had a trading volume of 1,146,356 shares, compared to its average volume of 769,501. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The firm has a market capitalization of $6.23 billion, a P/E ratio of 13.04, a PEG ratio of 3.84 and a beta of 1.19. The firm has a 50-day simple moving average of $103.61 and a 200-day simple moving average of $113.55.

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