Cigna Investments Inc. New Sells 260 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Cigna Investments Inc. New cut its stake in Mohawk Industries, Inc. (NYSE:MHK) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,539 shares of the company’s stock after selling 260 shares during the period. Cigna Investments Inc. New’s holdings in Mohawk Industries were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MHK. Private Advisors LLC acquired a new position in shares of Mohawk Industries in the 4th quarter valued at $423,000. Quadrant Capital Group LLC raised its stake in shares of Mohawk Industries by 70.3% in the 4th quarter. Quadrant Capital Group LLC now owns 540 shares of the company’s stock valued at $69,000 after buying an additional 223 shares in the last quarter. M.D. Sass Investors Services Inc. raised its stake in shares of Mohawk Industries by 3.8% in the 4th quarter. M.D. Sass Investors Services Inc. now owns 110,088 shares of the company’s stock valued at $15,014,000 after buying an additional 4,072 shares in the last quarter. NuWave Investment Management LLC raised its stake in shares of Mohawk Industries by 6,333.3% in the 4th quarter. NuWave Investment Management LLC now owns 1,737 shares of the company’s stock valued at $237,000 after buying an additional 1,710 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Mohawk Industries by 19.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,787 shares of the company’s stock valued at $380,000 after buying an additional 462 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Mohawk Industries stock opened at $137.98 on Friday. The stock has a market capitalization of $9.50 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.68 and a beta of 1.36. The company has a quick ratio of 0.77, a current ratio of 1.52 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $134.10 and a 200 day simple moving average of $130.30. Mohawk Industries, Inc. has a 12-month low of $108.93 and a 12-month high of $156.60.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 13th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Mohawk Industries had a net margin of 7.46% and a return on equity of 9.39%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $2.53 EPS. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 10.55 earnings per share for the current year.

A number of brokerages have recently issued reports on MHK. Goldman Sachs Group began coverage on shares of Mohawk Industries in a research note on Friday, December 6th. They issued a “buy” rating and a $165.00 price objective for the company. Deutsche Bank initiated coverage on shares of Mohawk Industries in a research report on Wednesday, November 27th. They set a “hold” rating for the company. Cfra dropped their target price on shares of Mohawk Industries from $145.00 to $135.00 and set a “hold” rating for the company in a research report on Friday. Raymond James dropped their target price on shares of Mohawk Industries from $145.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Finally, Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating and set a $136.00 target price for the company. in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $145.36.

In related news, insider Suzanne L. Helen sold 7,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $138.94, for a total transaction of $972,580.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.00% of the company’s stock.

Mohawk Industries 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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