Northern Trust Corp Buys 26,075 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Northern Trust Corp grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 507,474 shares of the company's stock after purchasing an additional 26,075 shares during the quarter. Northern Trust Corp owned 0.80% of Mohawk Industries worth $60,455,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. bought a new stake in Mohawk Industries in the fourth quarter worth about $41,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Mohawk Industries during the third quarter valued at $55,000. R Squared Ltd purchased a new position in shares of Mohawk Industries in the fourth quarter worth approximately $66,000. Huntington National Bank raised its holdings in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after acquiring an additional 119 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $85,000 after acquiring an additional 501 shares in the last quarter. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Trading Up 4.6%

NYSE:MHK traded up $4.89 on Monday, hitting $111.20. 222,186 shares of the stock were exchanged, compared to its average volume of 749,202. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The company's 50-day moving average price is $108.83 and its 200 day moving average price is $120.79. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The firm's revenue was down 5.7% on a year-over-year basis. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MHK. Royal Bank of Canada dropped their price target on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research report on Monday, May 5th. 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 on the stock. Bank of America decreased their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a report on Monday, February 10th. Robert W. Baird reduced their price objective on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Finally, Wells Fargo & Company cut their price target on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $140.00.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.40% of the stock is currently owned by corporate insiders.

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.