M&T Bank Corp Buys 122 Shares of Mohawk Industries, Inc. (NYSE:MHK)

M&T Bank Corp boosted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,315 shares of the company’s stock after purchasing an additional 122 shares during the quarter. M&T Bank Corp’s holdings in Mohawk Industries were worth $378,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MHK. Raymond James Financial Inc. bought a new stake in Mohawk Industries during the fourth quarter worth approximately $4,891,000. Commonwealth Equity Services LLC bought a new stake in Mohawk Industries during the fourth quarter worth approximately $482,000. Cibc World Markets Corp boosted its position in Mohawk Industries by 45.2% during the fourth quarter. Cibc World Markets Corp now owns 5,908 shares of the company’s stock worth $704,000 after purchasing an additional 1,839 shares during the period. Magnetar Financial LLC boosted its position in Mohawk Industries by 353.1% during the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock worth $4,659,000 after purchasing an additional 30,477 shares during the period. Finally, Blueshift Asset Management LLC bought a new stake in Mohawk Industries during the fourth quarter worth approximately $341,000. Institutional investors own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MHK. Deutsche Bank Aktiengesellschaft started coverage on Mohawk Industries in a research report on Tuesday, April 1st. They set a “hold” rating and a $121.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company boosted their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reduced their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a report on Monday, May 5th. Finally, Barclays dropped their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating on the stock in a report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and a consensus target price of $140.71.

Mohawk Industries Trading Up 1.1%

MHK stock opened at $109.02 on Thursday. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $105.12 and its 200-day moving average is $111.60. The firm has a market cap of $6.82 billion, a P/E ratio of 14.27, a P/E/G ratio of 4.21 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data 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 firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 earnings per share. Equities analysts anticipate 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.