Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Brandes Investment Partners LP

Brandes Investment Partners LP cut its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 40.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 552,087 shares of the company’s stock after selling 370,518 shares during the quarter. Brandes Investment Partners LP owned 0.87% of Mohawk Industries worth $65,770,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Mohawk Industries by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 61,724 shares of the company’s stock worth $9,918,000 after buying an additional 2,601 shares during the last quarter. Versor Investments LP acquired a new position in shares of Mohawk Industries during the 3rd quarter worth $273,000. Apollon Wealth Management LLC acquired a new position in shares of Mohawk Industries during the 3rd quarter worth $242,000. Aigen Investment Management LP acquired a new position in shares of Mohawk Industries during the 3rd quarter worth $491,000. Finally, MQS Management LLC acquired a new position in shares of Mohawk Industries during the 3rd quarter worth $341,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the transaction, the insider now directly owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. The Goldman Sachs Group cut their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 10th. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Wednesday, January 8th. Evercore ISI dropped their price objective on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Stock Up 3.1 %

Shares of NYSE:MHK opened at $114.39 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. Mohawk Industries, Inc. has a 1 year low of $104.88 and a 1 year high of $164.29. The stock has a market capitalization of $7.16 billion, a P/E ratio of 14.07, a PEG ratio of 1.44 and a beta of 1.44. The stock has a 50-day simple moving average of $120.57 and a 200-day simple moving average of $135.26.

Mohawk Industries (NYSE:MHK) last issued its earnings results 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%. Equities analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

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.