PFG Advisors Buys New Position in Mohawk Industries, Inc. (NYSE:MHK)

PFG Advisors bought a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,997 shares of the company’s stock, valued at approximately $238,000.

A number of other large investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its position in shares of Mohawk Industries by 16.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,814 shares of the company’s stock valued at $335,000 after purchasing an additional 397 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Mohawk Industries by 10.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,652 shares of the company’s stock valued at $1,626,000 after acquiring an additional 1,345 shares during the last quarter. Amundi raised its stake in Mohawk Industries by 117.4% during the 4th quarter. Amundi now owns 331,750 shares of the company’s stock valued at $39,239,000 after acquiring an additional 179,121 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Mohawk Industries by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,959 shares of the company’s stock valued at $1,186,000 after acquiring an additional 569 shares during the last quarter. Finally, Candriam S.C.A. purchased a new stake in Mohawk Industries during the 4th quarter valued at approximately $846,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the sale, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. This represents a 3.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.10% of the stock is owned by insiders.

Mohawk Industries Stock Performance

NYSE MHK opened at $114.39 on Friday. Mohawk Industries, Inc. has a 1-year low of $104.88 and a 1-year high of $164.29. The company has a market capitalization of $7.16 billion, a P/E ratio of 14.07, a PEG ratio of 1.44 and a beta of 1.44. The business has a 50 day moving average price of $120.51 and a 200 day moving average price of $134.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. The Goldman Sachs Group reduced their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Raymond James reissued a “strong-buy” rating and set a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Evercore ISI cut their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Barclays cut their target price on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Finally, StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

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.