BI Asset Management Fondsmaeglerselskab A S Has $1.38 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7,307.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,333 shares of the company’s stock after buying an additional 13,153 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Mohawk Industries were worth $1,380,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after purchasing an additional 244 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after purchasing an additional 128 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Mohawk Industries in the 4th quarter valued at $101,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Mohawk Industries in the 4th quarter valued at $169,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Trading Up 0.5 %

Mohawk Industries stock opened at $119.56 on Wednesday. The stock has a market cap of $7.64 billion, a P/E ratio of -18.28, a PEG ratio of 1.17 and a beta of 1.35. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The firm’s fifty day moving average price is $119.29 and its 200-day moving average price is $107.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Equities research analysts forecast that Mohawk Industries, Inc. will post 9.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MHK shares. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Barclays lowered their target price on Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Royal Bank of Canada raised their target price on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. raised their target price on Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Loop Capital lowered their target price on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Mohawk Industries presently has a consensus rating of “Hold” and a consensus price target of $121.33.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is owned by company 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.