Prudential Financial Inc. Decreases Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Prudential Financial Inc. cut its stake in Mohawk Industries, Inc. (NYSE:MHK) by 46.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,906 shares of the company’s stock after selling 29,960 shares during the period. Prudential Financial Inc.’s holdings in Mohawk Industries were worth $4,039,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Magnetar Financial LLC raised its holdings in Mohawk Industries by 353.1% during the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock worth $4,659,000 after purchasing an additional 30,477 shares during the last quarter. Choreo LLC acquired a new position in shares of Mohawk Industries during the 4th quarter worth $258,000. Sei Investments Co. boosted its position in shares of Mohawk Industries by 46.3% in the 4th quarter. Sei Investments Co. now owns 91,586 shares of the company’s stock worth $10,911,000 after buying an additional 28,998 shares in the last quarter. Townsend & Associates Inc grew its stake in Mohawk Industries by 1.2% in the 4th quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock valued at $34,382,000 after acquiring an additional 3,078 shares during the last quarter. Finally, Sciencast Management LP increased its holdings in Mohawk Industries by 59.1% during the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company’s stock valued at $725,000 after acquiring an additional 2,262 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $114.93 on Wednesday. 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 company has a market cap of $7.19 billion, a PE ratio of 14.14, a P/E/G ratio of 1.44 and a beta of 1.44. The company’s fifty day simple moving average is $118.38 and its 200-day simple moving average is $131.63. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate 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 research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analyst Upgrades and Downgrades

MHK has been the topic of several research reports. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target 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. Loop Capital reduced their price objective on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group dropped their price objective 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. Finally, Raymond James restated a “strong-buy” rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.07.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.10% of the company’s stock.

About Mohawk Industries

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.