Mercer Global Advisors Inc. ADV Has $500,000 Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Mercer Global Advisors Inc. ADV cut its holdings in Mohawk Industries, Inc. (NYSE:MHK – Get Rating) by 33.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,892 shares of the company’s stock after selling 2,427 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Mohawk Industries were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MHK. PNC Financial Services Group Inc. raised its position in shares of Mohawk Industries by 4.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,953 shares of the company’s stock valued at $615,000 after purchasing an additional 224 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Mohawk Industries in the first quarter valued at approximately $1,043,000. MetLife Investment Management LLC raised its position in shares of Mohawk Industries by 23.2% in the first quarter. MetLife Investment Management LLC now owns 14,929 shares of the company’s stock valued at $1,854,000 after purchasing an additional 2,809 shares during the period. Panagora Asset Management Inc. raised its position in shares of Mohawk Industries by 98.7% in the first quarter. Panagora Asset Management Inc. now owns 10,628 shares of the company’s stock valued at $1,320,000 after purchasing an additional 5,280 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Mohawk Industries by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,341 shares of the company’s stock valued at $912,000 after purchasing an additional 455 shares during the period. Institutional investors own 75.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MHK. Bank of America dropped their price target on shares of Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 19th. StockNews.com initiated coverage on shares of Mohawk Industries in a research report on Thursday. They set a “hold” rating on the stock. Loop Capital raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Tuesday, April 11th. Credit Suisse Group dropped their target price on shares of Mohawk Industries from $109.00 to $103.00 in a research report on Monday, March 20th. Finally, Barclays boosted their target price on shares of Mohawk Industries from $83.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, February 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $123.08.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $96.57 on Monday. Mohawk Industries, Inc. has a 52-week low of $87.01 and a 52-week high of $142.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.83 and a quick ratio of 1.00. The company’s fifty day moving average price is $97.32 and its two-hundred day moving average price is $103.34.

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

Insider Activity

In other news, insider Suzanne L. Helen sold 4,250 shares of the business’s stock in a transaction on Monday, February 27th. The shares were 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 approximately $1,388,753.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.20% of the stock is owned by corporate insiders.

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.