Proficio Capital Partners LLC Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

Proficio Capital Partners LLC acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 31,331 shares of the company’s stock, valued at approximately $3,732,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in shares of Mohawk Industries by 7.5% in the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after acquiring an additional 115 shares during the period. Contravisory Investment Management Inc. boosted its stake in shares of Mohawk Industries by 2.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after purchasing an additional 121 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Mohawk Industries by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after purchasing an additional 130 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Mohawk Industries by 11.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,518 shares of the company’s stock valued at $244,000 after acquiring an additional 161 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Mohawk Industries by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 7,816 shares of the company’s stock valued at $931,000 after purchasing an additional 190 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MHK. Bank of America dropped their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 10th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. Barclays lowered their price target on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Raymond James reaffirmed a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Trading Up 0.5 %

NYSE MHK opened at $114.87 on Tuesday. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29. The firm has a market cap of $7.19 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average price of $120.46 and a 200 day moving average price of $134.44.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

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.