Ieq Capital LLC Increases Position in Mohawk Industries, Inc. (NYSE:MHK)

Ieq Capital LLC raised its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 91.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,527 shares of the company’s stock after purchasing an additional 4,560 shares during the quarter. Ieq Capital LLC’s holdings in Mohawk Industries were worth $1,135,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MHK. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Mohawk Industries in the third quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries during the 3rd quarter worth $55,000. Blue Trust Inc. increased its stake in shares of Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares during the period. True Wealth Design LLC bought a new stake in shares of Mohawk Industries in the third quarter valued at about $61,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Mohawk Industries in the 3rd quarter worth approximately $73,000. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Price Performance

NYSE:MHK opened at $115.36 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29. The stock’s 50-day moving average price is $121.46 and its 200-day moving average price is $138.04. The stock has a market capitalization of $7.28 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, equities analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MHK. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Wednesday, January 8th. Barclays reduced their price target on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada lowered their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Finally, Bank of America cut their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.92.

About Mohawk Industries

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.