Pictet Asset Management SA Has $2.90 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

Pictet Asset Management SA reduced its stake in shares of Mohawk Industries, Inc. (NYSE:MHKGet Rating) by 13.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,364 shares of the company’s stock after selling 3,527 shares during the quarter. Pictet Asset Management SA’s holdings in Mohawk Industries were worth $2,899,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MHK. Shapiro Capital Management LLC bought a new position in Mohawk Industries during the first quarter valued at approximately $96,936,000. Ariel Investments LLC raised its position in Mohawk Industries by 26.8% during the first quarter. Ariel Investments LLC now owns 1,723,343 shares of the company’s stock valued at $214,040,000 after acquiring an additional 364,085 shares in the last quarter. Pzena Investment Management LLC raised its position in Mohawk Industries by 18.0% during the second quarter. Pzena Investment Management LLC now owns 2,068,700 shares of the company’s stock valued at $256,705,000 after acquiring an additional 316,197 shares in the last quarter. Invesco Ltd. raised its position in Mohawk Industries by 26.6% during the first quarter. Invesco Ltd. now owns 1,039,949 shares of the company’s stock valued at $129,161,000 after acquiring an additional 218,505 shares in the last quarter. Finally, GMT Capital Corp raised its position in Mohawk Industries by 44.6% during the first quarter. GMT Capital Corp now owns 321,000 shares of the company’s stock valued at $39,868,000 after acquiring an additional 99,000 shares in the last quarter. 75.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 6,300 shares of Mohawk Industries stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $112.30, for a total transaction of $707,490.00. Following the sale, the insider now owns 25,953 shares in the company, valued at $2,914,521.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.90% of the company’s stock.

Mohawk Industries Trading Up 1.1 %

Shares of MHK stock opened at $99.97 on Monday. Mohawk Industries, Inc. has a 1 year low of $87.01 and a 1 year high of $192.00. The company has a current ratio of 1.50, a quick ratio of 0.76 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $97.07 and its 200 day simple moving average is $116.73. The firm has a market capitalization of $6.35 billion, a P/E ratio of 38.75, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

Mohawk Industries (NYSE:MHKGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported $3.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.34. Mohawk Industries had a net margin of 1.53% and a return on equity of 11.32%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the company earned $3.95 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 13.03 EPS for the current year.

Analyst Ratings Changes

MHK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Mohawk Industries from $122.00 to $99.00 and set a “hold” rating on the stock in a research report on Thursday, October 20th. Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $137.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 2nd. Credit Suisse Group dropped their price target on shares of Mohawk Industries to $109.00 in a research report on Thursday, October 20th. Raymond James lowered shares of Mohawk Industries from a “strong-buy” rating to a “market perform” rating in a research report on Monday, August 1st. Finally, Robert W. Baird dropped their price target on shares of Mohawk Industries from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.29.

Mohawk Industries Company Profile

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Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

See Also

Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries, Inc. (NYSE:MHKGet Rating).

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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