Contravisory Investment Management Inc. Buys 121 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Contravisory Investment Management Inc. grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,711 shares of the company’s stock after buying an additional 121 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Mohawk Industries were worth $680,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Mohawk Industries in the 2nd quarter worth approximately $85,997,000. FMR LLC grew its holdings in Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares during the period. Pacer Advisors Inc. raised its position in shares of Mohawk Industries by 42.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after acquiring an additional 360,628 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of Mohawk Industries in the 2nd quarter valued at about $21,061,000. Finally, Select Equity Group L.P. boosted its position in shares of Mohawk Industries by 8.5% during the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock valued at $193,380,000 after purchasing an additional 132,879 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 19,078 shares of company stock valued at $2,474,347. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Up 3.6 %

Mohawk Industries stock opened at $130.08 on Thursday. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.15 and a beta of 1.41. Mohawk Industries, Inc. has a 1-year low of $96.28 and a 1-year high of $164.29. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $129.39 and a 200 day simple moving average of $139.88.

Wall Street Analysts Forecast Growth

MHK has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $196.00 in a research report on Monday, October 21st. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Jefferies Financial Group boosted their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.85.

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.