Citadel Investment Advisory Inc. Buys 100 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Citadel Investment Advisory Inc. grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,848 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Mohawk Industries comprises approximately 0.7% of Citadel Investment Advisory Inc.’s investment portfolio, making the stock its 29th largest position. Citadel Investment Advisory Inc.’s holdings in Mohawk Industries were worth $1,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MHK. Norges Bank acquired a new position in shares of Mohawk Industries during the fourth quarter valued at about $61,171,000. Millennium Management LLC grew its stake in Mohawk Industries by 66.2% in the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company’s stock valued at $107,017,000 after acquiring an additional 357,687 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock valued at $162,793,000 after acquiring an additional 354,656 shares in the last quarter. American Century Companies Inc. raised its position in shares of Mohawk Industries by 48.7% during the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock worth $114,224,000 after purchasing an additional 313,897 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Mohawk Industries by 12,165.8% in the 1st quarter. GAMMA Investing LLC now owns 310,570 shares of the company’s stock worth $35,461,000 after purchasing an additional 308,038 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

MHK has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price target on the stock. Barclays decreased their price objective 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. Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Finally, Wall Street Zen downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Mohawk Industries Trading Down 3.4%

Shares of MHK stock opened at $101.25 on Monday. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The business’s fifty day moving average is $104.16 and its 200 day moving average is $114.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The company has a market capitalization of $6.33 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19.

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