Charles Schwab Investment Management Inc. Lowers Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Charles Schwab Investment Management Inc. trimmed its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 534,258 shares of the company’s stock after selling 3,896 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.85% of Mohawk Industries worth $63,646,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Choreo LLC acquired a new position in shares of Mohawk Industries in the fourth quarter worth about $258,000. Meeder Asset Management Inc. raised its position in shares of Mohawk Industries by 8.8% in the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after acquiring an additional 6,863 shares during the period. Townsend & Associates Inc raised its position in shares of Mohawk Industries by 1.2% in the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock worth $34,382,000 after acquiring an additional 3,078 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Mohawk Industries in the fourth quarter worth about $997,000. Finally, JPMorgan Chase & Co. raised its position in shares of Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the completion of the sale, the insider now owns 104,084 shares of the company’s stock, valued at $13,126,033.24. This represents a 3.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Up 0.9 %

Shares of NYSE MHK opened at $113.49 on Thursday. Mohawk Industries, Inc. has a 12-month low of $104.88 and a 12-month high of $164.29. The stock has a market cap of $7.10 billion, a PE ratio of 13.96, a P/E/G ratio of 1.44 and a beta of 1.44. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $120.78 and a 200 day moving average of $135.59.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on MHK shares. Raymond James reiterated a “strong-buy” rating and issued a $165.00 price objective (down previously from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Robert W. Baird reduced their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Evercore ISI reduced their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.