Crestmont Private Wealth LLC Purchases New Stake in Mohawk Industries, Inc. (NYSE:MHK)

Crestmont Private Wealth LLC acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,572 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds have also made changes to their positions in MHK. Exchange Traded Concepts LLC lifted its stake in shares of Mohawk Industries by 2,773.6% during the third quarter. Exchange Traded Concepts LLC now owns 1,523 shares of the company’s stock worth $245,000 after purchasing an additional 1,470 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Mohawk Industries during the 3rd quarter worth approximately $976,000. Private Advisory Group LLC purchased a new position in Mohawk Industries in the 3rd quarter worth approximately $1,711,000. Wedmont Private Capital grew its position in Mohawk Industries by 8.3% in the third quarter. Wedmont Private Capital now owns 2,483 shares of the company’s stock valued at $385,000 after acquiring an additional 190 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Mohawk Industries by 1,024.3% during the third quarter. CWM LLC now owns 7,443 shares of the company’s stock valued at $1,196,000 after purchasing an additional 6,781 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $157.30 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $152.74 and its two-hundred day moving average price is $131.73. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $164.05. The stock has a market capitalization of $10.05 billion, a P/E ratio of -24.05, a P/E/G ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.25. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $2.76 EPS. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 10 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Loop Capital boosted their price target on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price target on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Robert W. Baird lifted their price objective on Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company upgraded Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the transaction, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,415 shares of company stock worth $673,387. 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.