Russell Investments Group Ltd. Lowers Position in Mohawk Industries, Inc. (NYSE:MHK)

Russell Investments Group Ltd. lessened its holdings in Mohawk Industries, Inc. (NYSE:MHK – Get Rating) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,086 shares of the company’s stock after selling 6,593 shares during the period. Russell Investments Group Ltd. owned about 0.18% of Mohawk Industries worth $11,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in Mohawk Industries during the 4th quarter worth approximately $27,000. Wipfli Financial Advisors LLC purchased a new position in Mohawk Industries in the 3rd quarter valued at $33,000. Canada Pension Plan Investment Board boosted its stake in 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 purchasing an additional 200 shares during the last quarter. Covestor Ltd raised its holdings in Mohawk Industries by 191.0% in the 1st quarter. Covestor Ltd now owns 390 shares of the company’s stock valued at $49,000 after acquiring an additional 256 shares during the last quarter. Finally, Ronald Blue Trust Inc. lifted its position in Mohawk Industries by 116.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 630 shares of the company’s stock worth $57,000 after buying an additional 339 shares in the last quarter. 75.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com began coverage on Mohawk Industries in a report on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group decreased their target price on shares of Mohawk Industries from $109.00 to $103.00 in a report on Monday, March 20th. Bank of America cut their price target on shares of Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating for the company in a report on Wednesday, April 19th. 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 report on Tuesday, April 11th. Finally, Barclays upped their target price on shares of Mohawk Industries from $83.00 to $105.00 and gave the company an “underweight” rating in a research report on Monday, February 13th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.08.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $116.40, for a total transaction of $314,280.00. Following the sale, the insider now directly owns 14,353 shares in the company, valued at $1,670,689.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $438,727.50. Following the completion of the transaction, the insider now owns 13,453 shares in the company, valued at $1,388,753.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 2,700 shares of the stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $116.40, for a total value of $314,280.00. Following the completion of the transaction, the insider now directly owns 14,353 shares in the company, valued at approximately $1,670,689.20. 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. 17.20% of the stock is currently owned by company insiders.

Mohawk Industries Price Performance

Shares of MHK opened at $97.76 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.83 and a debt-to-equity ratio of 0.28. Mohawk Industries, Inc. has a fifty-two week low of $87.01 and a fifty-two week high of $142.65. The company has a market cap of $6.23 billion, a P/E ratio of -44.04, a PEG ratio of 2.37 and a beta of 1.27. The firm’s 50 day moving average price is $97.95 and its 200 day moving average price is $103.25.

Mohawk Industries (NYSE:MHK – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The company reported $1.75 earnings per share (EPS) 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 business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the firm earned $3.78 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, research analysts forecast that Mohawk Industries, Inc. will post 9.4 earnings per share for the current fiscal year.

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.