ARGA Investment Management LP Sells 342,864 Shares of Mohawk Industries, Inc. (NYSE:MHK)

ARGA Investment Management LP trimmed its stake in Mohawk Industries, Inc. (NYSE:MHK) by 96.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,807 shares of the company’s stock after selling 342,864 shares during the quarter. ARGA Investment Management LP’s holdings in Mohawk Industries were worth $1,407,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC bought a new position in Mohawk Industries in the 3rd quarter worth about $36,000. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries in the third quarter worth approximately $55,000. Blue Trust Inc. lifted its stake in shares of Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after buying an additional 167 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Mohawk Industries during the third quarter valued at approximately $61,000. Finally, Versant Capital Management Inc increased its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after acquiring an additional 223 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MHK. Loop Capital reduced their target price on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Wells Fargo & Company decreased their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday. The Goldman Sachs Group lowered their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, 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 report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.62.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is owned by company insiders.

Mohawk Industries Stock Performance

NYSE:MHK opened at $120.13 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The stock has a 50-day simple moving average of $125.38 and a two-hundred day simple moving average of $140.79. The firm has a market capitalization of $7.58 billion, a PE ratio of 13.60, a P/E/G ratio of 1.60 and a beta of 1.41. Mohawk Industries, Inc. has a 52-week low of $101.83 and a 52-week high of $164.29.

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.