PNC Financial Services Group Inc. Raises Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

PNC Financial Services Group Inc. raised its position in Mohawk Industries, Inc. (NYSE:MHK) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,959 shares of the company’s stock after buying an additional 569 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mohawk Industries were worth $1,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MHK. Mark Sheptoff Financial Planning LLC purchased a new stake in Mohawk Industries in the third quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries in the third quarter valued at approximately $55,000. True Wealth Design LLC purchased a new stake in Mohawk Industries in the third quarter valued at approximately $61,000. Versant Capital Management Inc lifted its stake in Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after buying an additional 223 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Mohawk Industries in the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Up 3.1 %

Mohawk Industries stock opened at $114.39 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. Mohawk Industries, Inc. has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The stock’s fifty day moving average is $120.51 and its two-hundred day moving average is $134.71.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MHK. Robert W. Baird cut their price target on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Bank of America cut their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group cut their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Barclays cut their price target on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Finally, Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.92.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is owned by corporate insiders.

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.