Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 13.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,915 shares of the company’s stock after buying an additional 831 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Mohawk Industries were worth $787,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MHK. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries during the fourth quarter valued at about $41,000. Huntington National Bank raised its position in Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $85,000 after buying an additional 501 shares during the period. Mufg Securities Americas Inc. bought a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $92,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $114,000. Institutional investors own 78.98% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on MHK shares. Royal Bank Of Canada cut their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating on the stock in a report on Monday, May 5th. Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Wells Fargo & Company decreased their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a research report on Tuesday, April 1st. They set a “hold” rating and a $121.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Mohawk Industries Price Performance

MHK opened at $110.84 on Friday. The firm has a market cap of $6.93 billion, a PE ratio of 14.51, a P/E/G ratio of 4.28 and a beta of 1.18. The stock has a 50-day moving average price of $104.13 and a 200-day moving average price of $112.02. 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 current ratio of 2.01 and a quick ratio of 1.13.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 earnings per share. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Mohawk Industries 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.