US Bancorp DE Sells 1,202 Shares of Mohawk Industries, Inc. (NYSE:MHK)

US Bancorp DE lessened its stake in shares of Mohawk Industries, Inc. (NYSE:MHKGet Rating) by 10.5% in the third quarter, Holdings Channel reports. The institutional investor owned 10,272 shares of the company’s stock after selling 1,202 shares during the period. US Bancorp DE’s holdings in Mohawk Industries were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kinneret Advisory LLC increased its position in Mohawk Industries by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 3,451 shares of the company’s stock valued at $429,000 after buying an additional 77 shares in the last quarter. Captrust Financial Advisors boosted its stake in Mohawk Industries by 3.3% during the 1st quarter. Captrust Financial Advisors now owns 2,708 shares of the company’s stock valued at $336,000 after purchasing an additional 86 shares during the last quarter. DnB Asset Management AS boosted its stake in Mohawk Industries by 0.9% during the 2nd quarter. DnB Asset Management AS now owns 11,732 shares of the company’s stock valued at $1,456,000 after purchasing an additional 100 shares during the last quarter. Cardinal Capital Management boosted its stake in Mohawk Industries by 2.6% during the 3rd quarter. Cardinal Capital Management now owns 5,191 shares of the company’s stock valued at $473,000 after purchasing an additional 130 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Mohawk Industries by 8.6% during the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,758 shares of the company’s stock valued at $218,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 75.85% of the company’s stock.

Mohawk Industries Price Performance

NYSE:MHK opened at $111.37 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $103.92 and its two-hundred day simple moving average is $107.66. The stock has a market cap of $7.08 billion, a PE ratio of 43.17, a P/E/G ratio of 2.58 and a beta of 1.24. Mohawk Industries, Inc. has a 52 week low of $87.01 and a 52 week high of $165.79.

Mohawk Industries (NYSE:MHKGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported $3.34 EPS for the quarter, meeting analysts’ consensus estimates of $3.34. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Mohawk Industries had a return on equity of 11.32% and a net margin of 1.53%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $3.95 earnings per share. As a group, analysts forecast that Mohawk Industries, Inc. will post 13.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on MHK shares. The Goldman Sachs Group cut their target price on Mohawk Industries from $156.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, October 12th. StockNews.com began coverage on Mohawk Industries in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays dropped their price target on Mohawk Industries from $90.00 to $83.00 in a research note on Wednesday, December 14th. Deutsche Bank Aktiengesellschaft raised their price target on Mohawk Industries from $104.00 to $121.00 and gave the stock a “hold” rating in a research note on Tuesday, January 10th. Finally, Bank of America downgraded Mohawk Industries from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $140.00 to $100.00 in a research note on Tuesday, October 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $132.36.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $103.20, for a total transaction of $1,032,000.00. Following the sale, the insider now directly owns 15,953 shares of the company’s stock, valued at $1,646,349.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.40% of the company’s stock.

Mohawk Industries 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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