Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its position in Mohawk Industries, Inc. (NYSE:MHK) by 42.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,906 shares of the company’s stock after selling 2,838 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Mohawk Industries were worth $465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Mohawk Industries by 34.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,084 shares of the company’s stock valued at $723,000 after purchasing an additional 1,567 shares during the period. Choreo LLC purchased a new position in shares of Mohawk Industries during the 4th quarter worth approximately $258,000. Apollon Wealth Management LLC lifted its holdings in shares of Mohawk Industries by 71.0% in the 4th quarter. Apollon Wealth Management LLC now owns 2,575 shares of the company’s stock valued at $307,000 after buying an additional 1,069 shares during the period. Empowered Funds LLC lifted its holdings in shares of Mohawk Industries by 49.6% in the 4th quarter. Empowered Funds LLC now owns 3,405 shares of the company’s stock valued at $406,000 after buying an additional 1,129 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Mohawk Industries in the fourth quarter valued at approximately $88,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

MHK stock opened at $104.75 on Friday. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock’s 50 day moving average price is $104.11 and its 200 day moving average price is $115.26. The firm has a market cap of $6.55 billion, a P/E ratio of 12.88, a PEG ratio of 1.44 and a beta of 1.19.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on MHK. Royal Bank of Canada cut their price objective on Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a research report on Monday, May 5th. Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Barclays reduced their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They set a “hold” rating and a $121.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Mohawk Industries currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Mohawk Industries Company 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.