Wilsey Asset Management Inc. Acquires 7,438 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Wilsey Asset Management Inc. lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 205,952 shares of the company's stock after purchasing an additional 7,438 shares during the period. Mohawk Industries accounts for 4.7% of Wilsey Asset Management Inc.'s holdings, making the stock its 15th biggest holding. Wilsey Asset Management Inc. owned about 0.33% of Mohawk Industries worth $23,516,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MHK. Choreo LLC acquired a new position in shares of Mohawk Industries during the fourth quarter worth $258,000. Apollon Wealth Management LLC raised its stake in Mohawk Industries by 71.0% during the fourth quarter. Apollon Wealth Management LLC now owns 2,575 shares of the company's stock worth $307,000 after buying an additional 1,069 shares during the last quarter. Empowered Funds LLC raised its stake in Mohawk Industries by 49.6% during the fourth quarter. Empowered Funds LLC now owns 3,405 shares of the company's stock worth $406,000 after buying an additional 1,129 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Mohawk Industries by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 119,111 shares of the company's stock worth $13,807,000 after buying an additional 6,030 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Mohawk Industries by 24.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,248 shares of the company's stock worth $148,000 after buying an additional 245 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Performance

MHK traded down $3.52 during midday trading on Friday, reaching $101.25. The company had a trading volume of 901,090 shares, compared to its average volume of 761,237. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock has a market cap of $6.33 billion, a PE ratio of 12.45, a P/E/G ratio of 1.44 and a beta of 1.19. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The business has a 50-day moving average price of $104.16 and a two-hundred day moving average price of $114.83.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company's quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 earnings per share. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on MHK shares. Royal Bank of Canada decreased their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research note on Monday, May 5th. Barclays decreased their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company decreased 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 research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target for the company. Finally, Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.