Raymond James Financial Services Advisors Inc. lessened its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,573 shares of the company’s stock after selling 5,611 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.14% of Mohawk Industries worth $26,378,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MHK. KCG Holdings Inc. acquired a new stake in shares of Mohawk Industries in the 1st quarter valued at $252,000. Capstone Asset Management Co. lifted its stake in shares of Mohawk Industries by 2.8% in the 2nd quarter. Capstone Asset Management Co. now owns 5,145 shares of the company’s stock valued at $1,243,000 after purchasing an additional 138 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of Mohawk Industries by 1.4% in the 2nd quarter. Gateway Investment Advisers LLC now owns 4,825 shares of the company’s stock valued at $1,166,000 after purchasing an additional 66 shares during the last quarter. Creative Planning lifted its stake in shares of Mohawk Industries by 12.6% in the 2nd quarter. Creative Planning now owns 2,800 shares of the company’s stock valued at $677,000 after purchasing an additional 313 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Mohawk Industries by 27.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,481 shares of the company’s stock valued at $599,000 after purchasing an additional 530 shares during the last quarter. 76.19% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Raymond James Financial Services Advisors Inc. Has $26.38 Million Position in Mohawk Industries, Inc. (MHK)” was posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/11/17/raymond-james-financial-services-advisors-inc-has-26-38-million-position-in-mohawk-industries-inc-mhk.html.

MHK has been the topic of several recent analyst reports. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $291.00 target price on shares of Mohawk Industries in a report on Monday, July 31st. BidaskClub downgraded shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Cleveland Research downgraded shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Finally, J P Morgan Chase & Co lifted their target price on shares of Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $281.42.

In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the sale, the chairman now owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.00% of the company’s stock.

Shares of Mohawk Industries, Inc. (NYSE:MHK) opened at $270.65 on Friday. The firm has a market cap of $19,850.88, a PE ratio of 19.86, a P/E/G ratio of 2.42 and a beta of 1.35. Mohawk Industries, Inc. has a 52 week low of $189.44 and a 52 week high of $271.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.01. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 earnings per share. equities analysts expect that Mohawk Industries, Inc. will post 13.52 EPS for the current year.

About Mohawk Industries

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries, Inc. (NYSE:MHK).

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.