Equity Investment Corp raised its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 6.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 467,445 shares of the company’s stock after purchasing an additional 29,291 shares during the period. Equity Investment Corp’s holdings in Mohawk Industries were worth $58,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Lavaca Capital LLC bought a new stake in shares of Mohawk Industries in the 1st quarter worth about $25,000. Lindbrook Capital LLC bought a new stake in shares of Mohawk Industries in the 4th quarter worth about $34,000. CSat Investment Advisory L.P. grew its holdings in shares of Mohawk Industries by 222.0% in the 4th quarter. CSat Investment Advisory L.P. now owns 293 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new stake in shares of Mohawk Industries in the 1st quarter worth about $38,000. Finally, Parallel Advisors LLC grew its holdings in shares of Mohawk Industries by 123.4% in the 4th quarter. Parallel Advisors LLC now owns 353 shares of the company’s stock worth $41,000 after purchasing an additional 195 shares during the last quarter. 81.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:MHK opened at $140.31 on Friday. Mohawk Industries, Inc. has a 12 month low of $109.35 and a 12 month high of $228.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.37. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 2.45 and a beta of 1.53.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.06. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned $3.01 EPS. The company’s revenue was up 1.3% on a year-over-year basis. Analysts expect that Mohawk Industries, Inc. will post 10.77 earnings per share for the current fiscal year.

In other Mohawk Industries news, VP Rodney David Patton sold 2,260 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $133.50, for a total transaction of $301,710.00. Following the transaction, the vice president now directly owns 9,134 shares in the company, valued at approximately $1,219,389. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 18.00% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on MHK. Zacks Investment Research raised shares of Mohawk Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. Loop Capital upped their target price on shares of Mohawk Industries to $126.00 and gave the stock an “underperform” rating in a report on Friday, February 8th. SunTrust Banks upped their target price on shares of Mohawk Industries to $150.00 and gave the stock a “buy” rating in a report on Monday, February 11th. They noted that the move was a valuation call. Longbow Research lowered shares of Mohawk Industries from a “buy” rating to a “neutral” rating and set a $125.98 target price on the stock. in a report on Friday, March 29th. Finally, Buckingham Research started coverage on shares of Mohawk Industries in a report on Friday, February 1st. They set an “underperform” rating and a $116.00 price objective on the stock. Five analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Mohawk Industries presently has an average rating of “Hold” and a consensus target price of $149.53.

COPYRIGHT VIOLATION WARNING: This news story was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://www.watchlistnews.com/equity-investment-corp-has-58-97-million-holdings-in-mohawk-industries-inc-mhk/3013089.html.

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).

Read More: How is the S&P 500 index different from the DJIA?

Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries, Inc. (NYSE:MHK).

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

Receive News & Ratings for Mohawk Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries and related companies with MarketBeat.com's FREE daily email newsletter.