Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,030 shares of the company’s stock after selling 20,775 shares during the quarter. Bank of New York Mellon Corp owned about 0.47% of Mohawk Industries worth $33,801,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MHK. Citadel Investment Advisory Inc. raised its holdings in shares of Mohawk Industries by 0.8% in the first quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company’s stock worth $1,467,000 after acquiring an additional 100 shares during the last quarter. Huntington National Bank increased its stake in Mohawk Industries by 27.4% in the fourth 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. Janus Henderson Group PLC increased its stake in Mohawk Industries by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company’s stock valued at $3,054,000 after purchasing an additional 120 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Mohawk Industries by 9.1% during the first quarter. Exchange Traded Concepts LLC now owns 1,635 shares of the company’s stock valued at $187,000 after acquiring an additional 136 shares during the period. Finally, Treasurer of the State of North Carolina grew 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 during the period. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Trading Down 3.8%

Shares of NYSE MHK opened at $107.90 on Wednesday. The stock’s 50 day moving average price is $104.96 and its two-hundred day moving average price is $111.61. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The stock has a market capitalization of $6.75 billion, a P/E ratio of 14.12, a PEG ratio of 4.38 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. Mohawk Industries’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 earnings per share. On average, analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Mohawk Industries from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Barclays decreased their target price on Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft started coverage on Mohawk Industries in a research report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 target price for the company. Royal Bank Of Canada decreased their target price 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. 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $140.71.

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.