Advisory Services Network LLC Buys 432 Shares of Mohawk Industries, Inc. (MHK)

Advisory Services Network LLC increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 134.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 754 shares of the company’s stock after purchasing an additional 432 shares during the period. Advisory Services Network LLC’s holdings in Mohawk Industries were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Oakbrook Investments LLC lifted its holdings in shares of Mohawk Industries by 4.2% during the fourth quarter. Oakbrook Investments LLC now owns 4,540 shares of the company’s stock worth $1,253,000 after purchasing an additional 185 shares during the period. Zions Bancorporation lifted its holdings in Mohawk Industries by 6.5% in the third quarter. Zions Bancorporation now owns 3,210 shares of the company’s stock valued at $795,000 after acquiring an additional 196 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Mohawk Industries by 0.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 30,845 shares of the company’s stock valued at $8,510,000 after acquiring an additional 200 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in Mohawk Industries by 2.9% in the fourth quarter. Catalyst Capital Advisors LLC now owns 7,200 shares of the company’s stock valued at $1,986,000 after acquiring an additional 200 shares during the period. Finally, New Mexico Educational Retirement Board lifted its holdings in Mohawk Industries by 3.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 6,100 shares of the company’s stock valued at $1,683,000 after acquiring an additional 200 shares during the period. 78.49% of the stock is owned by hedge funds and other institutional investors.

MHK has been the subject of a number of recent analyst reports. SunTrust Banks reissued a “buy” rating and issued a $275.00 target price on shares of Mohawk Industries in a report on Friday, October 27th. Nomura set a $300.00 target price on Mohawk Industries and gave the company a “buy” rating in a report on Friday, October 27th. Stifel Nicolaus reissued a “buy” rating and issued a $270.00 target price on shares of Mohawk Industries in a report on Sunday, October 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price (up previously from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Mohawk Industries presently has a consensus rating of “Buy” and a consensus price target of $295.62.

Mohawk Industries, Inc. (NYSE:MHK) opened at $251.39 on Friday. The stock has a market capitalization of $18,690.00, a price-to-earnings ratio of 19.38, a PEG ratio of 1.74 and a beta of 1.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 1.53. Mohawk Industries, Inc. has a one year low of $223.37 and a one year high of $286.85.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.10. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.26 EPS. research analysts forecast that Mohawk Industries, Inc. will post 15.54 earnings per share for the current fiscal year.

In other news, insider Chistopher Wellborn sold 8,707 shares of Mohawk Industries stock in a transaction on Friday, February 16th. The stock was sold at an average price of $252.00, for a total transaction of $2,194,164.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard Thiers sold 17,383 shares of Mohawk Industries stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $250.00, for a total value of $4,345,750.00. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

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About Mohawk Industries

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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