Citigroup Inc. Sells 45,397 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Citigroup Inc. cut its holdings in Mohawk Industries, Inc. (NYSE:MHK – Get Rating) by 46.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,385 shares of the company’s stock after selling 45,397 shares during the quarter. Citigroup Inc.’s holdings in Mohawk Industries were worth $5,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new position in shares of Mohawk Industries during the 4th quarter valued at $27,000. Sentry Investment Management LLC increased its stake in shares of Mohawk Industries by 75.6% in the 4th quarter. Sentry Investment Management LLC now owns 339 shares of the company’s stock worth $35,000 after purchasing an additional 146 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Mohawk Industries by 100.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 400 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Mohawk Industries in the 4th quarter worth $48,000. Finally, Covestor Ltd increased its stake in shares of Mohawk Industries by 191.0% in the 1st quarter. Covestor Ltd now owns 390 shares of the company’s stock worth $49,000 after purchasing an additional 256 shares in the last quarter. 75.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Bank of America reduced their price objective on Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating for the company in a research note on Wednesday, April 19th. Barclays upped their price objective on Mohawk Industries from $83.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, February 13th. StockNews.com assumed coverage on Mohawk Industries in a research report on Thursday. They issued a “hold” rating on the stock. Credit Suisse Group dropped their price target on Mohawk Industries from $109.00 to $103.00 in a research note on Monday, March 20th. Finally, Loop Capital upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, April 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Mohawk Industries currently has an average rating of “Hold” and an average price target of $123.08.

Mohawk Industries Stock Performance

NYSE:MHK opened at $96.57 on Friday. The stock’s fifty day moving average is $97.32 and its 200 day moving average is $103.25. Mohawk Industries, Inc. has a fifty-two week low of $87.01 and a fifty-two week high of $142.65. The firm has a market capitalization of $6.15 billion, a PE ratio of -43.50, a PEG ratio of 2.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.83.

Mohawk Industries (NYSE:MHK – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.47. Mohawk Industries had a positive return on equity of 8.47% and a negative net margin of 1.21%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the firm posted $3.78 EPS. Mohawk Industries’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.48 earnings per share for the current year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,250 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $103.23, for a total value of $438,727.50. Following the sale, the insider now owns 13,453 shares in the company, valued at $1,388,753.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.20% of the company’s stock.

Mohawk Industries Profile

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Mohawk Industries, Inc engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment manufactures ceramic, porcelain, and natural stone tile products used for wall and floor applications.