Palouse Capital Management Inc. Has $136,000 Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Palouse Capital Management Inc. trimmed its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 28.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,196 shares of the company’s stock after selling 482 shares during the quarter. Palouse Capital Management Inc.’s holdings in Mohawk Industries were worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Quest Partners LLC grew its position in Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares during the period. Quarry LP increased its position in shares of Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares in the last quarter. Headlands Technologies LLC bought a new position in Mohawk Industries during the 2nd quarter valued at about $50,000. Quent Capital LLC boosted its position in Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after buying an additional 106 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its stake in Mohawk Industries by 32,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after buying an additional 650 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MHK shares. JPMorgan Chase & Co. boosted their target price on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Raymond James upgraded Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price on the stock in a report on Monday, June 10th. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their price target for the company from $120.00 to $177.00 in a report on Friday, July 26th. Loop Capital increased their price objective on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Robert W. Baird boosted their target price on shares of Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Insider Buying and Selling at Mohawk Industries

In other news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the transaction, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Suzanne L. Helen sold 700 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the sale, the insider now directly owns 121,669 shares in the company, valued at $17,881,692.93. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,415 shares of company stock valued at $673,387. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Up 1.1 %

Shares of NYSE MHK opened at $156.61 on Thursday. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $164.05. The firm has a market capitalization of $10.00 billion, a P/E ratio of -23.95, a P/E/G ratio of 1.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The company’s 50 day simple moving average is $146.64 and its 200 day simple moving average is $127.45.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.25. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $2.76 EPS. On average, analysts predict that Mohawk Industries, Inc. will post 10 EPS for the current year.

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.