Proficio Capital Partners LLC Takes $3.73 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

Proficio Capital Partners LLC acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,331 shares of the company’s stock, valued at approximately $3,732,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC acquired a new stake in Mohawk Industries in the third quarter valued at $36,000. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries in the third quarter valued at about $55,000. True Wealth Design LLC acquired a new position in shares of Mohawk Industries during the third quarter worth $61,000. Versant Capital Management Inc grew its stake in Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after purchasing an additional 223 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Mohawk Industries during the 4th quarter worth $66,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Trading Up 0.5 %

MHK stock opened at $114.87 on Tuesday. Mohawk Industries, Inc. has a one year low of $104.88 and a one year high of $164.29. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company has a fifty day moving average price of $120.46 and a two-hundred day moving average price of $134.44. 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 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 8.04%. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MHK. Robert W. Baird cut their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Evercore ISI decreased their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a report on Monday, February 10th. Raymond James reaffirmed a “strong-buy” rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Wells Fargo & Company reduced their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays decreased their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.92.

About Mohawk Industries

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.