Parallel Advisors LLC Increases Holdings in Mohawk Industries, Inc. (MHK)

Parallel Advisors LLC raised its position in Mohawk Industries, Inc. (NYSE:MHK) by 28.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 452 shares of the company’s stock after acquiring an additional 99 shares during the period. Parallel Advisors LLC’s holdings in Mohawk Industries were worth $57,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Lavaca Capital LLC acquired a new stake in Mohawk Industries in the first quarter valued at approximately $25,000. CSat Investment Advisory L.P. boosted its position in shares of Mohawk Industries by 222.0% during the fourth quarter. CSat Investment Advisory L.P. now owns 293 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Lindbrook Capital LLC purchased a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $34,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Mohawk Industries during the first quarter valued at approximately $38,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Mohawk Industries during the first quarter valued at approximately $50,000. 81.58% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on MHK. Zacks Investment Research raised Mohawk Industries from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Loop Capital lifted their target price on Mohawk Industries to $126.00 and gave the company an “underperform” rating in a research report on Friday, February 8th. SunTrust Banks lifted their target price on Mohawk Industries to $150.00 and gave the company a “buy” rating in a research report on Monday, February 11th. They noted that the move was a valuation call. Longbow Research cut Mohawk Industries from a “buy” rating to a “neutral” rating and set a $125.98 target price on the stock. in a research report on Friday, March 29th. Finally, Buckingham Research began coverage on Mohawk Industries in a research report on Friday, February 1st. They set an “underperform” rating and a $116.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Mohawk Industries presently has an average rating of “Hold” and a consensus price target of $152.76.



In related news, VP Rodney David Patton sold 2,260 shares of Mohawk Industries stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total transaction of $301,710.00. Following the sale, the vice president now directly owns 9,134 shares in the company, valued at $1,219,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.00% of the company’s stock.

Shares of Mohawk Industries stock opened at $134.21 on Wednesday. The firm has a market cap of $9.50 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 2.37 and a beta of 1.53. Mohawk Industries, Inc. has a 12 month low of $109.35 and a 12 month high of $228.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.37.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $2.13 EPS for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.06. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.50 billion. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. Mohawk Industries’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $3.01 earnings per share. Research analysts anticipate that Mohawk Industries, Inc. will post 10.77 EPS for the current year.

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Mohawk Industries Company 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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