New World Advisors LLC Sells 1,125 Shares of Mohawk Industries, Inc. (NYSE:MHK)

New World Advisors LLC decreased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 39.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,695 shares of the company’s stock after selling 1,125 shares during the period. New World Advisors LLC’s holdings in Mohawk Industries were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its holdings in Mohawk Industries by 2.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 16,618 shares of the company’s stock worth $2,670,000 after acquiring an additional 410 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Mohawk Industries by 155.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,744 shares of the company’s stock worth $1,084,000 after purchasing an additional 4,108 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Mohawk Industries by 52.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,517 shares of the company’s stock valued at $717,000 after buying an additional 1,559 shares in the last quarter. Allworth Financial LP boosted its holdings in Mohawk Industries by 20.6% in the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after buying an additional 107 shares during the period. Finally, BayBridge Capital Group LLC bought a new stake in Mohawk Industries during the third quarter valued at about $483,000. Institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the topic of several recent analyst reports. Barclays lifted their target price on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Jefferies Financial Group raised their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Five equities research 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 stock. According to data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the sale, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,415 shares of company stock worth $673,387. Insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 13.8 %

Shares of Mohawk Industries stock traded down $20.99 on Friday, reaching $130.88. The company had a trading volume of 3,197,985 shares, compared to its average volume of 709,862. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of -20.01, a P/E/G ratio of 1.11 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The firm’s 50-day moving average price is $154.55 and its two-hundred day moving average price is $133.72. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $164.29.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, October 24th. The company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.89 by $0.01. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, research analysts predict that Mohawk Industries, Inc. will post 9.98 earnings per share for the current fiscal year.

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.