Janney Montgomery Scott LLC Decreases Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Janney Montgomery Scott LLC reduced its holdings in shares of Mohawk Industries, Inc. (NYSE:MHKGet Rating) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,164 shares of the company’s stock after selling 109 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Mohawk Industries were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MHK. Natixis Advisors L.P. raised its position in shares of Mohawk Industries by 10.8% during the 2nd quarter. Natixis Advisors L.P. now owns 37,918 shares of the company’s stock worth $4,705,000 after purchasing an additional 3,684 shares during the last quarter. Echo Street Capital Management LLC purchased a new stake in shares of Mohawk Industries in the second quarter valued at $346,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in shares of Mohawk Industries during the second quarter valued at $270,000. Envestnet Asset Management Inc. increased its position in Mohawk Industries by 5.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 83,341 shares of the company’s stock worth $10,342,000 after purchasing an additional 4,347 shares in the last quarter. Finally, Triad Investment Management raised its stake in Mohawk Industries by 34.4% in the 3rd quarter. Triad Investment Management now owns 9,438 shares of the company’s stock valued at $861,000 after purchasing an additional 2,416 shares during the last quarter. Institutional investors and hedge funds own 75.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Credit Suisse Group lowered their price target on shares of Mohawk Industries to $109.00 in a report on Thursday, October 20th. The Goldman Sachs Group cut their price target on Mohawk Industries from $156.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, October 12th. Bank of America cut Mohawk Industries from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $140.00 to $100.00 in a report on Tuesday, October 18th. Barclays dropped their target price on Mohawk Industries from $90.00 to $83.00 in a research note on Wednesday, December 14th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $132.36.

Mohawk Industries Price Performance

MHK stock opened at $114.60 on Friday. The firm has a market cap of $7.28 billion, a P/E ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.76 and a current ratio of 1.50. Mohawk Industries, Inc. has a 1 year low of $87.01 and a 1 year high of $161.03. The stock has a 50-day simple moving average of $104.02 and a 200-day simple moving average of $107.43.

Mohawk Industries (NYSE:MHKGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $3.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.34. Mohawk Industries had a net margin of 1.53% and a return on equity of 11.32%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the company earned $3.95 earnings per share. Mohawk Industries’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts predict that Mohawk Industries, Inc. will post 13.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 completion of the sale, the insider now directly owns 15,953 shares in the company, valued at $1,646,349.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.40% of the stock is currently owned by insiders.

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).

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

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