Mohawk Industries, Inc. (NYSE:MHK) Stock Holdings Lessened by Cetera Investment Advisers

Cetera Investment Advisers cut its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 6.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,512 shares of the company’s stock after selling 627 shares during the period. Cetera Investment Advisers’ holdings in Mohawk Industries were worth $1,014,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MHK. Huntington National Bank lifted its position in Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after buying an additional 119 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Mohawk Industries by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company’s stock valued at $2,748,000 after acquiring an additional 150 shares in the last quarter. BOKF NA lifted its stake in Mohawk Industries by 1.2% in the fourth quarter. BOKF NA now owns 12,694 shares of the company’s stock valued at $1,499,000 after acquiring an additional 150 shares during the last quarter. CIBC Asset Management Inc grew its position in Mohawk Industries by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 7,816 shares of the company’s stock worth $931,000 after acquiring an additional 190 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of Mohawk Industries by 24.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,248 shares of the company’s stock worth $148,000 after purchasing an additional 245 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.40% of the stock is owned by company insiders.

Mohawk Industries Stock Down 1.2%

MHK opened at $101.12 on Friday. The business has a 50 day moving average of $107.16 and a 200-day moving average of $119.05. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company earned $1.86 EPS. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MHK. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They set a “hold” rating and a $121.00 price target on the stock. Evercore ISI cut their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Raymond James reissued a “strong-buy” rating and set a $165.00 price objective (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Finally, Loop Capital cut their price objective on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries currently has an average rating of “Moderate Buy” and an average price target of $140.00.

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.