6,072 Shares in Mohawk Industries, Inc. (NYSE:MHK) Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,072 shares of the company’s stock, valued at approximately $976,000.

A number of other hedge funds have also modified their holdings of the business. Private Advisory Group LLC purchased a new stake in Mohawk Industries in the 3rd quarter valued at about $1,711,000. Wedmont Private Capital increased its position in shares of Mohawk Industries by 8.3% during the third quarter. Wedmont Private Capital now owns 2,483 shares of the company’s stock valued at $385,000 after acquiring an additional 190 shares during the last quarter. CWM LLC raised its stake in shares of Mohawk Industries by 1,024.3% in the 3rd quarter. CWM LLC now owns 7,443 shares of the company’s stock valued at $1,196,000 after acquiring an additional 6,781 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Mohawk Industries by 13.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,488 shares of the company’s stock worth $400,000 after acquiring an additional 292 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of Mohawk Industries by 5.7% during the 3rd quarter. Czech National Bank now owns 10,671 shares of the company’s stock worth $1,715,000 after purchasing an additional 571 shares during the period. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Trading Up 0.6 %

NYSE MHK opened at $158.18 on Tuesday. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $164.05. The firm has a 50 day moving average of $152.96 and a two-hundred day moving average of $131.94. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $10.10 billion, a PE ratio of -24.19, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

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

Insider Activity

In related news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $99,963.60. Following the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Robert W. Baird raised their target price on Mohawk Industries from $132.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Barclays increased their price target on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group upped their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

About Mohawk Industries

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.