Mohawk Industries, Inc. $MHK Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 4.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,922,393 shares of the company's stock after selling 307,393 shares during the period. Vanguard Group Inc. owned approximately 9.47% of Mohawk Industries worth $676,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Citadel Investment Advisory Inc. raised its holdings in Mohawk Industries by 0.8% during the first quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock worth $1,467,000 after purchasing an additional 100 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Mohawk Industries by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock worth $3,054,000 after acquiring an additional 120 shares during the last quarter. M&T Bank Corp grew its stake in Mohawk Industries by 3.8% in the 1st quarter. M&T Bank Corp now owns 3,315 shares of the company's stock worth $378,000 after acquiring an additional 122 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Mohawk Industries by 3.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock valued at $457,000 after acquiring an additional 126 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Mohawk Industries by 4.7% in the first quarter. Venturi Wealth Management LLC now owns 2,899 shares of the company's stock valued at $331,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 78.98% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MHK. JPMorgan Chase & Co. boosted their price objective on Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Wells Fargo & Company lifted their target price on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Finally, Barclays raised their target price on Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Seven research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $140.14.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,500 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $120.60, for a total transaction of $301,500.00. Following the completion of the transaction, the insider directly owned 91,084 shares in the company, valued at $10,984,730.40. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of Mohawk Industries stock in a transaction on Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the completion of the transaction, the chief executive officer directly owned 33,600 shares of the company's stock, valued at $4,059,216. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. 17.40% of the stock is owned by corporate insiders.

Mohawk Industries Stock Down 0.0%

Shares of MHK traded down $0.03 on Monday, reaching $128.05. The stock had a trading volume of 181,147 shares, compared to its average volume of 810,468. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 2.79 and a beta of 1.28. The company has a 50-day simple moving average of $111.92 and a 200-day simple moving average of $110.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.15. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the company earned $3.00 earnings per share. The firm's quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts predict 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.