855 Shares in Mohawk Industries, Inc. (NYSE:MHK) Purchased by Palouse Capital Management Inc.

Palouse Capital Management Inc. purchased a new position in Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 855 shares of the company’s stock, valued at approximately $102,000.

Several other institutional investors also recently modified their holdings of the business. New York State Teachers Retirement System increased its stake in shares of Mohawk Industries by 7.7% in the 4th quarter. New York State Teachers Retirement System now owns 50,028 shares of the company’s stock worth $5,960,000 after acquiring an additional 3,560 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of Mohawk Industries by 22.1% in the 4th quarter. V Square Quantitative Management LLC now owns 1,761 shares of the company’s stock worth $210,000 after acquiring an additional 319 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Mohawk Industries in the 4th quarter worth about $532,000. Asset Management One Co. Ltd. increased its stake in Mohawk Industries by 24.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,248 shares of the company’s stock valued at $148,000 after purchasing an additional 245 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Mohawk Industries by 5.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 119,111 shares of the company’s stock valued at $13,807,000 after purchasing an additional 6,030 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MHK. Robert W. Baird reduced their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada reduced their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company reduced their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Barclays reduced their price objective on shares of 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. Six equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Stock Performance

MHK opened at $121.05 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.60 and a beta of 1.41. The company’s 50 day moving average is $122.89 and its 200 day moving average is $139.48. Mohawk Industries, Inc. has a 12-month low of $104.88 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. On average, equities research analysts predict that Mohawk Industries, Inc. will post 10.71 EPS for the current year.

Insider Activity

In other news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 over the last quarter. Insiders own 17.10% of the company’s stock.

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.