Mirae Asset Global Investments Co. Ltd. Increases Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 34.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,084 shares of the company’s stock after purchasing an additional 1,567 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Mohawk Industries were worth $723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after purchasing an additional 74,123 shares in the last quarter. FMR LLC grew its holdings in Mohawk Industries by 52.3% in the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares during the last quarter. State Street Corp grew its stake in shares of Mohawk Industries by 1.3% in the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after purchasing an additional 23,016 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Mohawk Industries by 33.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock valued at $162,586,000 after purchasing an additional 254,779 shares during the period. Finally, Holocene Advisors LP raised its position in Mohawk Industries by 16.5% during the 3rd quarter. Holocene Advisors LP now owns 168,327 shares of the company’s stock valued at $27,047,000 after purchasing an additional 23,859 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 19,078 shares of company stock valued at $2,474,347 over the last three months. 17.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MHK has been the topic of a number of research analyst reports. Robert W. Baird reduced their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research report on Monday. Evercore ISI reduced their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday. Royal Bank of Canada cut 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. JPMorgan Chase & Co. dropped their price target on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, StockNews.com lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Stock Down 2.1 %

NYSE MHK opened at $116.77 on Thursday. The stock has a market cap of $7.37 billion, a PE ratio of 14.36, a P/E/G ratio of 1.60 and a beta of 1.41. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12 month low of $104.88 and a 12 month high of $164.29. The stock’s 50 day moving average is $123.32 and its 200 day moving average is $140.07.

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

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.