UBS Asset Management Americas Inc. raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,738 shares of the company’s stock after purchasing an additional 17,862 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Mohawk Industries were worth $63,385,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Pensionfund DSM Netherlands purchased a new position in Mohawk Industries during the 4th quarter valued at $3,035,000. Quantbot Technologies LP purchased a new position in Mohawk Industries during the 3rd quarter valued at $5,281,000. National Pension Service increased its position in Mohawk Industries by 2.5% during the 4th quarter. National Pension Service now owns 69,142 shares of the company’s stock valued at $19,076,000 after purchasing an additional 1,672 shares during the period. Parametric Portfolio Associates LLC increased its position in Mohawk Industries by 10.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 105,131 shares of the company’s stock valued at $26,021,000 after purchasing an additional 9,896 shares during the period. Finally, IBM Retirement Fund increased its position in Mohawk Industries by 72.4% during the 3rd quarter. IBM Retirement Fund now owns 1,593 shares of the company’s stock valued at $436,000 after purchasing an additional 669 shares during the period. 78.49% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Jefferies Group assumed coverage on shares of Mohawk Industries in a research report on Tuesday, December 12th. They set a “buy” rating and a $330.00 price objective on the stock. Barclays upped their target price on shares of Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $310.00 target price (up from $303.00) on shares of Mohawk Industries in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 target price on the stock in a research report on Friday, January 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $270.00 target price on shares of Mohawk Industries in a research report on Sunday, October 29th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $295.62.
Mohawk Industries, Inc. (MHK) opened at $251.39 on Friday. The stock has a market cap of $18,505.69, a PE ratio of 18.30, a P/E/G ratio of 1.74 and a beta of 1.26. Mohawk Industries, Inc. has a one year low of $223.37 and a one year high of $286.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.32 by $0.10. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. Mohawk Industries’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.26 EPS. analysts expect that Mohawk Industries, Inc. will post 15.66 earnings per share for the current year.
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Mohawk Industries Profile
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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