Ameriprise Financial Inc. boosted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 511,663 shares of the company’s stock after purchasing an additional 63,558 shares during the period. Ameriprise Financial Inc. owned approximately 0.69% of Mohawk Industries worth $126,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MHK. Harbour Capital Advisors LLC raised its stake in shares of Mohawk Industries by 23,742.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,006,397 shares of the company’s stock valued at $4,164,000 after acquiring an additional 1,002,176 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Mohawk Industries by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock valued at $1,215,567,000 after purchasing an additional 412,942 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Mohawk Industries by 143.5% in the second quarter. Wells Fargo & Company MN now owns 596,358 shares of the company’s stock valued at $144,133,000 after purchasing an additional 351,457 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Mohawk Industries by 5.8% in the second quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock valued at $1,105,842,000 after purchasing an additional 250,944 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Mohawk Industries in the second quarter valued at approximately $53,508,000. 76.74% of the stock is currently owned by institutional investors.

In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.00% of the stock is owned by corporate insiders.

MHK has been the subject of a number of research 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 restated a “buy” rating and issued a $291.00 price objective on shares of Mohawk Industries in a report on Monday, July 31st. Cleveland Research cut shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. J P Morgan Chase & Co lifted their price objective on shares of Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Mohawk Industries presently has an average rating of “Buy” and an average price target of $281.42.

Mohawk Industries, Inc. (NYSE:MHK) opened at $275.55 on Friday. Mohawk Industries, Inc. has a twelve month low of $189.44 and a twelve month high of $279.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. The stock has a market cap of $20,478.88, a price-to-earnings ratio of 20.49, a PEG ratio of 2.49 and a beta of 1.35.

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

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Mohawk Industries Company Profile

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.

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

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