Steph & Co. Buys 741 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Steph & Co. grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 61.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,938 shares of the company’s stock after acquiring an additional 741 shares during the period. Steph & Co.’s holdings in Mohawk Industries were worth $221,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MHK. Sanctuary Advisors LLC lifted its holdings in shares of Mohawk Industries by 16.9% in the 4th quarter. Sanctuary Advisors LLC now owns 3,541 shares of the company’s stock worth $448,000 after buying an additional 511 shares during the period. Ieq Capital LLC grew its holdings in Mohawk Industries by 91.8% during the 4th quarter. Ieq Capital LLC now owns 9,527 shares of the company’s stock worth $1,135,000 after acquiring an additional 4,560 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Mohawk Industries in the 4th quarter valued at about $997,000. Blackhawk Capital Partners LLC. raised its holdings in shares of Mohawk Industries by 32.7% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 1,816 shares of the company’s stock valued at $216,000 after purchasing an additional 447 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Mohawk Industries by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 316,805 shares of the company’s stock worth $37,741,000 after purchasing an additional 16,483 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

NYSE:MHK opened at $104.01 on Wednesday. The firm’s fifty day moving average is $103.61 and its two-hundred day moving average is $113.17. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 3.97 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.13 and a current ratio of 2.01. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. Mohawk Industries’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the business earned $1.86 earnings per share. Research analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays dropped their target price on Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company reduced their target price on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada decreased their price objective on Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Mohawk Industries Company 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.