Parametric Portfolio Associates LLC Reduces Stake in Mohawk Industries, Inc. (NYSE:MHK)

Parametric Portfolio Associates LLC lessened its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 25.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 267,686 shares of the company’s stock after selling 92,885 shares during the period. Parametric Portfolio Associates LLC owned 0.37% of Mohawk Industries worth $33,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its stake in Mohawk Industries by 2.0% in the second quarter. BlackRock Inc. now owns 4,292,004 shares of the company’s stock valued at $632,943,000 after purchasing an additional 82,737 shares during the last quarter. State Street Corp lifted its position in shares of Mohawk Industries by 1.4% during the 3rd quarter. State Street Corp now owns 2,851,554 shares of the company’s stock worth $353,792,000 after buying an additional 39,921 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Mohawk Industries by 12.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,074,968 shares of the company’s stock valued at $301,057,000 after buying an additional 232,384 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Mohawk Industries by 45.0% in the 2nd quarter. Pzena Investment Management LLC now owns 1,979,015 shares of the company’s stock valued at $291,845,000 after buying an additional 614,307 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Mohawk Industries by 13.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,473,746 shares of the company’s stock valued at $217,332,000 after buying an additional 172,676 shares during the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.

In other Mohawk Industries news, insider Cock Paul F. De sold 800 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $126.44, for a total value of $101,152.00. Following the transaction, the insider now directly owns 25,360 shares of the company’s stock, valued at approximately $3,206,518.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suzanne L. Helen sold 26,316 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $152.10, for a total transaction of $4,002,663.60. The disclosure for this sale can be found here. Insiders have sold 39,205 shares of company stock valued at $5,831,913 in the last 90 days. Company insiders own 18.00% of the company’s stock.

MHK has been the topic of several research analyst reports. ValuEngine lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Raymond James decreased their price objective on shares of Mohawk Industries from $145.00 to $140.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their price objective on Mohawk Industries from $145.00 to $165.00 in a report on Monday, October 28th. Deutsche Bank started coverage on Mohawk Industries in a research report on Wednesday, November 27th. They set a “hold” rating on the stock. Finally, Robert W. Baird boosted their target price on Mohawk Industries from $150.00 to $168.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $140.13.

Shares of MHK opened at $137.65 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 1.52. Mohawk Industries, Inc. has a fifty-two week low of $108.93 and a fifty-two week high of $156.60. The firm has a 50-day simple moving average of $139.33 and a 200-day simple moving average of $134.53. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 24th. The company reported $2.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.11. Mohawk Industries had a return on equity of 9.82% and a net margin of 7.09%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts forecast that Mohawk Industries, Inc. will post 9.96 EPS for the current year.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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

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