Townsend & Associates Inc Has $34.38 Million Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Townsend & Associates Inc raised its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 263,143 shares of the company’s stock after purchasing an additional 3,078 shares during the quarter. Mohawk Industries accounts for approximately 3.5% of Townsend & Associates Inc’s portfolio, making the stock its 9th largest position. Townsend & Associates Inc’s holdings in Mohawk Industries were worth $34,382,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MHK. Royal Bank of Canada dropped their target price 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. The Goldman Sachs Group dropped their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Bank of America dropped their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 10th. JPMorgan Chase & Co. dropped their target price on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the sale, the insider now directly owns 2,453 shares in the company, valued at $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 19,078 shares of company stock valued at $2,474,347. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Down 1.8 %

NYSE:MHK opened at $115.89 on Friday. Mohawk Industries, Inc. has a 1 year low of $104.88 and a 1 year high of $164.29. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.44 and a beta of 1.41. The stock has a 50-day moving average price of $121.69 and a two-hundred day moving average price of $138.29.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earnings per share for the current year.

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.