Xponance Inc. Cuts Stake in Mohawk Industries, Inc. (NYSE:MHK)

Xponance Inc. reduced its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 23.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,809 shares of the company’s stock after selling 2,121 shares during the period. Xponance Inc.’s holdings in Mohawk Industries were worth $705,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MHK. Czech National Bank increased its stake in Mohawk Industries by 47.7% during the 3rd quarter. Czech National Bank now owns 9,239 shares of the company’s stock worth $793,000 after buying an additional 2,983 shares during the period. Investment Research & Advisory Group Inc. increased its position in shares of Mohawk Industries by 449.7% in the 3rd quarter. Investment Research & Advisory Group Inc. now owns 4,810 shares of the company’s stock valued at $413,000 after purchasing an additional 3,935 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Mohawk Industries by 4.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,874 shares of the company’s stock valued at $1,276,000 after purchasing an additional 700 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Mohawk Industries by 3,935.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,753 shares of the company’s stock valued at $322,000 after purchasing an additional 3,660 shares during the last quarter. Finally, Concord Wealth Partners increased its position in shares of Mohawk Industries by 23.6% in the 3rd quarter. Concord Wealth Partners now owns 3,973 shares of the company’s stock valued at $341,000 after purchasing an additional 759 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Up 4.7 %

MHK stock opened at $115.45 on Friday. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $131.19. The stock has a market capitalization of $7.35 billion, a PE ratio of -16.68 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. The company has a fifty day moving average of $118.86 and a 200-day moving average of $102.85.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the business earned $1.75 EPS. The business’s revenue was down 4.5% on a year-over-year basis. As a group, analysts expect that Mohawk Industries, Inc. will post 9.56 EPS for the current year.

Analyst Ratings Changes

MHK has been the topic of a number of recent analyst reports. TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $98.00 to $152.00 in a research report on Monday, February 12th. Barclays increased their price objective on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. The Goldman Sachs Group upped their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Royal Bank of Canada upped their target price on shares of Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $118.75.

Insider Activity

In other news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.10% of the company’s stock.

About Mohawk Industries

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.