Wallace Capital Management Inc. Cuts Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Wallace Capital Management Inc. lessened its stake in Mohawk Industries, Inc. (NYSE:MHK) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,015 shares of the company’s stock after selling 896 shares during the period. Mohawk Industries makes up about 0.8% of Wallace Capital Management Inc.’s holdings, making the stock its 19th biggest holding. Wallace Capital Management Inc.’s holdings in Mohawk Industries were worth $6,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Mohawk Industries in the 1st quarter worth approximately $1,450,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Mohawk Industries in the 1st quarter valued at $1,450,000. Sei Investments Co. grew its holdings in shares of Mohawk Industries by 2,040.6% during the 1st quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock valued at $8,209,000 after purchasing an additional 59,790 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Mohawk Industries by 48.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company’s stock worth $31,349,000 after purchasing an additional 98,920 shares during the last quarter. Finally, Point72 Europe London LLP bought a new position in shares of Mohawk Industries during the fourth quarter valued at about $679,000. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $158.81 on Monday. The business has a fifty day moving average price of $150.67 and a 200-day moving average price of $129.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The company has a market capitalization of $10.14 billion, a PE ratio of -24.28, a PEG ratio of 1.23 and a beta of 1.37. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $164.05.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. Mohawk Industries’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $2.76 EPS. As a group, equities analysts expect that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of the sale, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. The disclosure for this sale can be found here. Insiders sold 4,415 shares of company stock worth $673,387 over the last quarter. 17.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price target on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price objective on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target for the company in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Mohawk Industries 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.