Wallace Capital Management Inc. Increases Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Wallace Capital Management Inc. grew its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,982 shares of the company's stock after acquiring an additional 5,013 shares during the period. Mohawk Industries comprises 1.0% of Wallace Capital Management Inc.'s portfolio, making the stock its 18th largest holding. Wallace Capital Management Inc. owned 0.09% of Mohawk Industries worth $7,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MHK. Vanguard Group Inc. boosted its holdings in Mohawk Industries by 0.3% during the fourth 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. boosted its holdings in Mohawk Industries by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock worth $383,076,000 after buying an additional 191,077 shares in the last quarter. Invesco Ltd. boosted its holdings in Mohawk Industries by 16.3% during the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock worth $205,545,000 after buying an additional 241,448 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in 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 buying an additional 354,656 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 worth $154,488,000 after buying an additional 22,736 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Trading Down 1.2%

Shares of NYSE:MHK traded down $1.20 during trading on Friday, reaching $101.12. The stock had a trading volume of 375,688 shares, compared to its average volume of 754,162. The business has a fifty day moving average price of $107.16 and a 200-day moving average price of $118.85. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The stock has a market cap of $6.32 billion, a P/E ratio of 12.44, a PEG ratio of 1.44 and a beta of 1.24. 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 released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. Mohawk Industries's revenue was down 5.7% compared to the same quarter last year. As a group, analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MHK shares. Robert W. Baird cut their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Raymond James restated a "strong-buy" rating and set a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. 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 for the company. Barclays cut their target price on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

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.