KLP Kapitalforvaltning AS Takes $1.31 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

KLP Kapitalforvaltning AS acquired a new position in Mohawk Industries, Inc. (NYSE:MHK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $1,310,000.

Other hedge funds have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Mohawk Industries during the third quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries during the 3rd quarter worth $55,000. True Wealth Design LLC acquired a new position in Mohawk Industries during the 3rd quarter worth $61,000. Versant Capital Management Inc grew its stake in shares of Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Mohawk Industries during the fourth quarter valued at $66,000. 78.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.10% of the stock is owned by corporate insiders.

Mohawk Industries Stock Down 2.9 %

Shares of NYSE:MHK opened at $113.78 on Friday. The firm has a 50 day simple moving average of $119.00 and a 200 day simple moving average of $132.29. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29. 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 company has a market cap of $7.12 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MHK. Loop Capital decreased their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Robert W. Baird decreased their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Wednesday, January 8th. Barclays decreased 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, Bank of America dropped their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

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.