Cibc World Markets Corp Boosts Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Cibc World Markets Corp boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 45.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,908 shares of the company’s stock after buying an additional 1,839 shares during the period. Cibc World Markets Corp’s holdings in Mohawk Industries were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MHK. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries in the 3rd quarter valued at $36,000. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries in the 3rd quarter valued at $55,000. True Wealth Design LLC purchased a new position in Mohawk Industries in the 3rd quarter valued at $61,000. Versant Capital Management Inc boosted its position in shares of Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Mohawk Industries during the 4th quarter worth $66,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now 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 legal filing with the SEC, which is available through this link. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 2.2 %

Shares of MHK stock opened at $111.75 on Friday. The firm has a 50-day moving average price of $120.12 and a 200 day moving average price of $133.45. Mohawk Industries, Inc. has a twelve month low of $104.88 and a twelve month high of $164.29. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.44 and a beta of 1.44. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MHK. Robert W. Baird decreased their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research report on Wednesday, January 8th. Evercore ISI decreased their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. Raymond James reiterated a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Finally, Loop Capital decreased their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Six 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.92.

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.