Pictet Asset Management Ltd. Has $13.44 Million Stake in Mohawk Industries, Inc. (MHK)

Pictet Asset Management Ltd. lessened its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 34.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,640 shares of the company’s stock after selling 40,754 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.10% of Mohawk Industries worth $13,439,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA boosted its stake in shares of Mohawk Industries by 19.7% during the third quarter. CHICAGO TRUST Co NA now owns 5,101 shares of the company’s stock valued at $895,000 after purchasing an additional 839 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Mohawk Industries by 5.4% during the second quarter. Sterling Capital Management LLC now owns 7,591 shares of the company’s stock valued at $1,627,000 after acquiring an additional 391 shares in the last quarter. USS Investment Management Ltd raised its holdings in shares of Mohawk Industries by 51.7% during the third quarter. USS Investment Management Ltd now owns 27,077 shares of the company’s stock valued at $4,748,000 after acquiring an additional 9,225 shares in the last quarter. Corbyn Investment Management Inc. MD raised its holdings in shares of Mohawk Industries by 40.4% during the second quarter. Corbyn Investment Management Inc. MD now owns 57,696 shares of the company’s stock valued at $12,363,000 after acquiring an additional 16,602 shares in the last quarter. Finally, Tributary Capital Management LLC raised its holdings in shares of Mohawk Industries by 35.3% during the third quarter. Tributary Capital Management LLC now owns 4,600 shares of the company’s stock valued at $807,000 after acquiring an additional 1,200 shares in the last quarter. 78.20% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Rodney David Patton sold 763 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $125.27, for a total value of $95,581.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Filip Balcaen bought 10,000 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was bought at an average cost of $127.48 per share, for a total transaction of $1,274,800.00. Following the completion of the purchase, the director now owns 776 shares of the company’s stock, valued at approximately $98,924.48. The disclosure for this purchase can be found here. Over the last three months, insiders bought 262,698 shares of company stock worth $31,193,685 and sold 29,805 shares worth $4,918,906. Corporate insiders own 16.80% of the company’s stock.



A number of brokerages recently commented on MHK. Credit Suisse Group set a $125.00 target price on Mohawk Industries and gave the company a “hold” rating in a report on Tuesday, November 13th. JPMorgan Chase & Co. decreased their target price on Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating for the company in a report on Monday, October 29th. SunTrust Banks decreased their target price on Mohawk Industries from $270.00 to $135.00 and set a “buy” rating for the company in a report on Monday, October 29th. Raymond James decreased their target price on Mohawk Industries from $195.00 to $140.00 and set a “buy” rating for the company in a report on Monday, October 29th. Finally, Wells Fargo & Co decreased their target price on Mohawk Industries from $195.00 to $130.00 and set a “market perform” rating for the company in a report on Monday, October 29th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $171.63.

NYSE MHK opened at $121.30 on Thursday. Mohawk Industries, Inc. has a 12 month low of $113.45 and a 12 month high of $284.71. The firm has a market capitalization of $9.00 billion, a PE ratio of 8.91, a P/E/G ratio of 1.48 and a beta of 1.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.79 and a current ratio of 1.54.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 25th. The company reported $3.29 EPS for the quarter, missing analysts’ consensus estimates of $3.58 by ($0.29). Mohawk Industries had a return on equity of 13.49% and a net margin of 8.81%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion. As a group, equities analysts anticipate that Mohawk Industries, Inc. will post 12.32 earnings per share for the current year.

Mohawk Industries announced that its board has approved a share repurchase program on Thursday, October 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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Mohawk Industries Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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

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