Pictet Asset Management Ltd. Has $4.15 Million Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Pictet Asset Management Ltd. lessened its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,894 shares of the company’s stock after selling 3,730 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Mohawk Industries were worth $4,150,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Lavaca Capital LLC purchased a new stake in shares of Mohawk Industries in the first quarter valued at approximately $25,000. Penserra Capital Management LLC purchased a new position in Mohawk Industries in the first quarter worth approximately $25,000. CSat Investment Advisory L.P. grew its position in Mohawk Industries by 222.0% in the fourth quarter. CSat Investment Advisory L.P. now owns 293 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. Lindbrook Capital LLC purchased a new position in Mohawk Industries in the fourth quarter worth approximately $34,000. Finally, Massey Quick Simon & CO. LLC acquired a new position in Mohawk Industries during the first quarter worth $38,000. Institutional investors and hedge funds own 80.65% of the company’s stock.

MHK stock traded up $3.24 during midday trading on Monday, hitting $150.71. The stock had a trading volume of 539,582 shares, compared to its average volume of 846,959. Mohawk Industries, Inc. has a 12-month low of $109.35 and a 12-month high of $228.49. The business has a 50-day moving average price of $143.92. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.71 and a beta of 1.42. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 25th. The company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.06. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the company earned $3.01 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post 10.7 EPS for the current fiscal year.

A number of research analysts have commented on the company. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Longbow Research cut Mohawk Industries from a “buy” rating to a “neutral” rating and set a $125.98 price objective on the stock. in a research note on Friday, March 29th. Loop Capital set a $130.00 price target on Mohawk Industries and gave the company a “hold” rating in a research note on Tuesday, May 14th. ValuEngine upgraded Mohawk Industries from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, Robert W. Baird set a $156.00 price objective on Mohawk Industries and gave the stock a “buy” rating in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Mohawk Industries currently has a consensus rating of “Hold” and a consensus price target of $150.41.

In other Mohawk Industries news, insider Bernard Thiers sold 2,800 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $149.85, for a total value of $419,580.00. Following the completion of the transaction, the insider now owns 43,559 shares in the company, valued at approximately $6,527,316.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $142.76, for a total transaction of $2,569,680.00. Following the completion of the transaction, the chairman now owns 47,603 shares of the company’s stock, valued at approximately $6,795,804.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,000 shares of company stock valued at $4,481,028. Insiders own 18.00% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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