RBA Wealth Management LLC Purchases Shares of 30,672 Mohawk Industries, Inc. (NYSE:MHK)

RBA Wealth Management LLC purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 30,672 shares of the company’s stock, valued at approximately $3,502,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its holdings in shares of Mohawk Industries by 16.9% during the fourth quarter. Sanctuary Advisors LLC now owns 3,541 shares of the company’s stock valued at $448,000 after acquiring an additional 511 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Mohawk Industries by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 316,805 shares of the company’s stock valued at $37,741,000 after acquiring an additional 16,483 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $3,732,000. Versor Investments LP increased its holdings in shares of Mohawk Industries by 31.5% during the fourth quarter. Versor Investments LP now owns 2,236 shares of the company’s stock valued at $266,000 after acquiring an additional 536 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Mohawk Industries by 233.0% during the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $85,000 after acquiring an additional 501 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Wall Street Zen downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Mohawk Industries in a report on Tuesday, April 1st. They set a “hold” rating and a $121.00 price objective for the company. Barclays decreased their price target on Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Finally, Royal Bank Of Canada decreased their price target on Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a report on Monday, May 5th. Seven 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. According to data from MarketBeat, Mohawk Industries has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Mohawk Industries Stock Up 1.5%

Shares of NYSE:MHK opened at $104.92 on Friday. The company has a market capitalization of $6.56 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 4.05 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.01 and a quick ratio of 1.13. The business has a fifty day moving average price of $103.70 and a two-hundred day moving average price of $112.59. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 EPS. Analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

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.