Sterling Capital Management LLC Sells 51,015 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Sterling Capital Management LLC lessened its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 48.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,274 shares of the company's stock after selling 51,015 shares during the quarter. Sterling Capital Management LLC owned 0.09% of Mohawk Industries worth $6,466,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at approximately $2,106,000. Treasurer of the State of North Carolina increased its stake in Mohawk Industries by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company's stock worth $2,748,000 after acquiring an additional 150 shares during the period. Bessemer Group Inc. lifted its position in shares of Mohawk Industries by 16.9% during the 4th quarter. Bessemer Group Inc. now owns 19,312 shares of the company's stock valued at $2,300,000 after acquiring an additional 2,792 shares during the period. CenterBook Partners LP acquired a new stake in shares of Mohawk Industries during the 4th quarter worth $1,191,000. Finally, Raymond James Financial Inc. bought a new position in shares of Mohawk Industries in the fourth quarter worth $4,891,000. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock traded up $2.31 on Thursday, reaching $103.23. The stock had a trading volume of 155,555 shares, compared to its average volume of 790,713. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year 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 has a market cap of $6.45 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The business's 50 day moving average is $113.34 and its two-hundred day moving average is $127.51.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wolfe Research upgraded shares of Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research note on Wednesday, January 8th. StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Barclays lowered their price target on shares of Mohawk Industries from $125.00 to $115.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. Finally, Bank of America dropped 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. Seven equities research 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's stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average target price of $142.57.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction dated 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 sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.40% of the stock is 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.