Prudential Financial Inc. Lowers Stake in Mohawk Industries (MHK)

Prudential Financial Inc. cut its holdings in Mohawk Industries (NYSE:MHK) by 19.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,655 shares of the company’s stock after selling 17,650 shares during the quarter. Prudential Financial Inc. owned approximately 0.10% of Mohawk Industries worth $16,640,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. NuWave Investment Management LLC acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $117,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $124,000. Cerebellum GP LLC acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $124,000. Calton & Associates Inc. acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $171,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $174,000. Institutional investors and hedge funds own 78.50% of the company’s stock.

A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Robert W. Baird decreased their target price on shares of Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. Longbow Research upgraded shares of Mohawk Industries from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Finally, Loop Capital assumed coverage on shares of Mohawk Industries in a research report on Thursday, March 1st. They set a “hold” rating and a $261.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Mohawk Industries currently has an average rating of “Buy” and a consensus price target of $280.67.



In related news, Director Filip Balcaen purchased 66,199 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were bought at an average price of $209.08 per share, for a total transaction of $13,840,886.92. Following the acquisition, the director now directly owns 776 shares in the company, valued at $162,246.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard Thiers sold 17,383 shares of Mohawk Industries stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $250.00, for a total transaction of $4,345,750.00. Following the completion of the transaction, the insider now owns 50,003 shares in the company, valued at approximately $12,500,750. The disclosure for this sale can be found here. In the last quarter, insiders acquired 102,157 shares of company stock worth $21,387,408 and sold 25,888 shares worth $6,409,201. 16.80% of the stock is owned by company insiders.

Shares of Mohawk Industries opened at $215.09 on Wednesday, according to MarketBeat. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.37 and a beta of 1.38. Mohawk Industries has a fifty-two week low of $206.74 and a fifty-two week high of $286.85. The company has a current ratio of 1.54, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 26th. The company reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.01. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.40 billion. Mohawk Industries had a net margin of 10.12% and a return on equity of 15.05%. Mohawk Industries’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $2.72 EPS. sell-side analysts forecast that Mohawk Industries will post 15.46 earnings per share for the current fiscal year.

Mohawk Industries Company Profile

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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