Palouse Capital Management Inc. Invests $102,000 in Mohawk Industries, Inc. (NYSE:MHK)

Palouse Capital Management Inc. bought a new position in Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 855 shares of the company’s stock, valued at approximately $102,000.

Several other large investors have also recently modified their holdings of MHK. FMR LLC grew its stake in Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after acquiring an additional 748,070 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Mohawk Industries by 33.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock valued at $162,586,000 after acquiring an additional 254,779 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Mohawk Industries by 482.7% during the third quarter. Assenagon Asset Management S.A. now owns 137,122 shares of the company’s stock valued at $22,033,000 after acquiring an additional 113,588 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after acquiring an additional 74,123 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Mohawk Industries by 111.1% during the third quarter. BNP Paribas Financial Markets now owns 129,186 shares of the company’s stock valued at $20,758,000 after acquiring an additional 67,990 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MHK. Robert W. Baird reduced their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Raymond James reissued a “strong-buy” rating and issued a $165.00 price target (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Evercore ISI cut their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note 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 for the company in a research note on Monday, February 10th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Trading Up 1.1 %

Shares of MHK opened at $121.05 on Friday. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries, Inc. has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The firm has a 50 day moving average price of $122.89 and a 200-day moving average price of $139.48.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. As a group, equities research analysts forecast that Mohawk Industries, Inc. will post 10.71 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 19,078 shares of company stock valued at $2,474,347 in the last quarter. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Company 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.