New York Life Investment Management LLC Reduces Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

New York Life Investment Management LLC trimmed its position in Mohawk Industries, Inc. (NYSE:MHK) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,441 shares of the company’s stock after selling 473 shares during the period. New York Life Investment Management LLC’s holdings in Mohawk Industries were worth $1,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MHK. Hantz Financial Services Inc. lifted its position in shares of Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after buying an additional 115 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after buying an additional 121 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Mohawk Industries by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after buying an additional 130 shares in the last quarter. US Bancorp DE lifted its position in shares of Mohawk Industries by 3.9% during the 3rd quarter. US Bancorp DE now owns 3,920 shares of the company’s stock valued at $630,000 after buying an additional 146 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Mohawk Industries by 11.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,518 shares of the company’s stock valued at $244,000 after buying an additional 161 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Wednesday, January 8th. Raymond James reissued a “strong-buy” rating and set a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Finally, The Goldman Sachs Group decreased their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $146.92.

Mohawk Industries Stock Performance

NYSE:MHK opened at $116.33 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries, Inc. has a 1 year low of $104.88 and a 1 year high of $164.29. The stock’s 50 day simple moving average is $121.29 and its two-hundred day simple moving average is $137.26. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.44 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 17,078 shares of company stock valued at $2,203,387. 17.10% of the stock is currently owned by insiders.

Mohawk Industries Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.