Guggenheim Capital LLC Sells 2,340 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Guggenheim Capital LLC trimmed its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 29.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,692 shares of the company's stock after selling 2,340 shares during the quarter. Guggenheim Capital LLC's holdings in Mohawk Industries were worth $678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Mohawk Industries in the 4th quarter valued at about $61,171,000. Massachusetts Financial Services Co. MA raised its stake in Mohawk Industries by 35.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock valued at $162,793,000 after purchasing an additional 354,656 shares in the last quarter. American Century Companies Inc. lifted its position in Mohawk Industries by 48.7% during the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company's stock valued at $114,224,000 after purchasing an additional 313,897 shares during the last quarter. Invesco Ltd. grew its stake in Mohawk Industries by 16.3% in the 4th 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. Finally, JPMorgan Chase & Co. raised its position 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 buying an additional 191,077 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 17.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. StockNews.com upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Robert W. Baird lowered their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Finally, Bank of America reduced their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $142.57.

Mohawk Industries Trading Down 0.8 %

Shares of NYSE MHK traded down $0.91 during trading hours on Wednesday, hitting $106.19. The company's stock had a trading volume of 827,305 shares, compared to its average volume of 737,228. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.44 and a beta of 1.23. 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 business has a 50-day simple moving average of $110.62 and a 200-day simple moving average of $123.88.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal 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.