Clearbridge Investments LLC Lowers Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Clearbridge Investments LLC cut its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 168,827 shares of the company’s stock after selling 1,771 shares during the period. Clearbridge Investments LLC owned 0.27% of Mohawk Industries worth $20,112,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Mohawk Industries in the fourth quarter valued at $61,171,000. American Century Companies Inc. boosted its stake in Mohawk Industries by 48.7% in the 4th quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock worth $114,224,000 after buying an additional 313,897 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after buying an additional 191,077 shares during the period. Amundi increased its stake in shares of Mohawk Industries by 117.4% during the 4th quarter. Amundi now owns 331,750 shares of the company’s stock valued at $39,239,000 after acquiring an additional 179,121 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Mohawk Industries by 72.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 335,176 shares of the company’s stock worth $39,930,000 after acquiring an additional 140,647 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MHK shares. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Wednesday, January 8th. Loop Capital lowered their price objective 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. Raymond James reaffirmed a “strong-buy” rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Wells Fargo & Company reduced their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Bank of America dropped their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Seven investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $145.07.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $114.93 on Wednesday. Mohawk Industries, Inc. has a 12-month low of $104.88 and a 12-month high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The firm’s fifty day moving average price is $118.38 and its 200 day moving average price is $131.63.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, research analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm’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 transaction of $1,191,120.00. Following the completion of the sale, the insider now owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is currently owned by corporate insiders.

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.