Select Equity Group L.P. Sells 55,867 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Select Equity Group L.P. lowered its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,497,419 shares of the company's stock after selling 55,867 shares during the period. Select Equity Group L.P. owned 2.37% of Mohawk Industries worth $178,388,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Resona Asset Management Co. Ltd. bought a new stake in shares of Mohawk Industries in the 4th quarter valued at $41,000. R Squared Ltd bought a new stake in shares of Mohawk Industries in the 4th quarter valued at $66,000. Huntington National Bank increased its stake in shares of Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after acquiring an additional 119 shares in the last quarter. Jones Financial Companies Lllp increased its stake 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. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Mohawk Industries in the 4th quarter valued at $88,000. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded down $0.58 during midday trading on Tuesday, reaching $106.98. The company had a trading volume of 428,947 shares, compared to its average volume of 754,692. The stock has a market cap of $6.69 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The company's 50 day moving average price is $107.92 and its 200 day moving average price is $119.68.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Robert W. Baird reduced 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 note on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. Loop Capital reduced their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the company'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 value of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.40% of the company's stock.

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.