FORA Capital LLC Acquires New Position in Mohawk Industries, Inc. (NYSE:MHK)

FORA Capital LLC purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 3,988 shares of the company’s stock, valued at approximately $475,000.

A number of other institutional investors also recently added to or reduced their stakes in MHK. Wilmington Savings Fund Society FSB acquired a new stake in shares of Mohawk Industries in the 3rd quarter valued at $55,000. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries in the fourth quarter valued at $41,000. R Squared Ltd purchased a new stake in Mohawk Industries during the 4th quarter worth about $66,000. Huntington National Bank lifted its holdings in Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after buying an additional 119 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $85,000 after acquiring an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

NYSE:MHK opened at $106.36 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The firm’s fifty day moving average price is $108.83 and its 200 day moving average price is $121.22.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 EPS. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MHK. The Goldman Sachs Group decreased their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Barclays dropped their target price on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Raymond James reissued a “strong-buy” rating and issued a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Finally, Robert W. Baird dropped their price objective on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Mohawk Industries 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.