Charles Schwab Investment Management Inc. Cuts Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Charles Schwab Investment Management Inc. cut its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 538,154 shares of the company’s stock after selling 7,223 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.85% of Mohawk Industries worth $86,471,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC increased its holdings in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $50,000. Capital Performance Advisors LLP purchased a new position in Mohawk Industries in the third quarter valued at approximately $73,000. Finally, AM Squared Ltd bought a new position in Mohawk Industries during the second quarter valued at $68,000. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Price Performance

NYSE:MHK opened at $139.10 on Thursday. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.60 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The stock has a fifty day moving average of $148.92 and a 200 day moving average of $137.71. Mohawk Industries, Inc. has a 52-week low of $83.15 and a 52-week high of $164.29.

Analyst Ratings Changes

Several brokerages have issued reports on MHK. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Jefferies Financial Group lifted their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Barclays dropped their price target on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Five 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.08.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.10% of the stock is owned by insiders.

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.