Bank of New York Mellon Corp Lowers Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Bank of New York Mellon Corp decreased its holdings in Mohawk Industries, Inc. (NYSE:MHKGet Rating) by 24.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,845 shares of the company’s stock after selling 134,124 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.65% of Mohawk Industries worth $37,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MHK. Wipfli Financial Advisors LLC purchased a new stake in Mohawk Industries in the third quarter valued at approximately $33,000. Ronald Blue Trust Inc. grew its stake in shares of Mohawk Industries by 438.9% during the 3rd quarter. Ronald Blue Trust Inc. now owns 291 shares of the company’s stock valued at $36,000 after buying an additional 237 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Mohawk Industries by 100.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 400 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Janiczek Wealth Management LLC raised its position in shares of Mohawk Industries by 95.2% in the 3rd quarter. Janiczek Wealth Management LLC now owns 408 shares of the company’s stock worth $39,000 after buying an additional 199 shares during the period. Finally, Covestor Ltd grew its position in Mohawk Industries by 191.0% during the first quarter. Covestor Ltd now owns 390 shares of the company’s stock valued at $49,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 75.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Loop Capital raised their price objective on Mohawk Industries from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Monday, January 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Mohawk Industries from $104.00 to $121.00 and gave the stock a “hold” rating in a research note on Tuesday, January 10th. Finally, Barclays lifted their target price on shares of Mohawk Industries from $83.00 to $105.00 and gave the company an “underweight” rating in a report on Monday, February 13th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $132.50.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,250 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $103.23, for a total transaction of $438,727.50. Following the sale, the insider now directly owns 13,453 shares of the company’s stock, valued at approximately $1,388,753.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Mohawk Industries news, insider Suzanne L. Helen sold 5,200 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $119.59, for a total value of $621,868.00. Following the transaction, the insider now owns 14,853 shares of the company’s stock, valued at $1,776,270.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 4,250 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 13,453 shares of the company’s stock, valued at $1,388,753.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,150 shares of company stock worth $1,374,876. 18.90% of the stock is currently owned by corporate insiders.

Mohawk Industries Trading Down 2.3 %

MHK opened at $97.87 on Monday. Mohawk Industries, Inc. has a 12-month low of $87.01 and a 12-month high of $159.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.92 and a quick ratio of 1.01. The stock has a market capitalization of $6.22 billion, a PE ratio of 326.23, a P/E/G ratio of 2.43 and a beta of 1.28. The firm’s fifty day moving average price is $112.96 and its 200 day moving average price is $104.30.

Mohawk Industries (NYSE:MHKGet Rating) last issued its earnings results on Friday, February 10th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.69 billion. Mohawk Industries had a net margin of 0.22% and a return on equity of 10.06%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 EPS. As a group, research analysts expect that Mohawk Industries, Inc. will post 8.98 EPS for the current fiscal year.

Mohawk Industries Company 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.

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

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