Centerstone Investors LLC Has $584,000 Stake in Mohawk Industries, Inc. (NYSE:MHK)

Centerstone Investors LLC decreased its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,901 shares of the company’s stock after selling 691 shares during the period. Mohawk Industries accounts for 0.5% of Centerstone Investors LLC’s investment portfolio, making the stock its 28th biggest holding. Centerstone Investors LLC’s holdings in Mohawk Industries were worth $584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries during the 4th quarter worth about $41,000. R Squared Ltd bought a new position in shares of Mohawk Industries during the 4th quarter worth about $66,000. Huntington National Bank increased its holdings in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after purchasing an additional 119 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Mohawk Industries by 233.0% during the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $85,000 after purchasing an additional 501 shares during the period. Finally, Stonebridge Financial Group LLC bought a new position in shares of Mohawk Industries during the 4th quarter worth about $88,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

MHK has been the topic of several research reports. Wall Street Zen downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Raymond James reissued a “strong-buy” rating and issued a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank of Canada lowered their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating on the stock in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Mohawk Industries Price Performance

NYSE:MHK opened at $101.12 on Friday. The firm has a market cap of $6.32 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $107.16 and its two-hundred day moving average price is $119.05.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 earnings per share. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Mohawk Industries 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.