Deutsche Bank AG Reduces Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Deutsche Bank AG reduced its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.9% in the first quarter, HoldingsChannel reports. The firm owned 419,319 shares of the company’s stock after selling 12,719 shares during the quarter. Deutsche Bank AG’s holdings in Mohawk Industries were worth $47,878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MHK. Charles Schwab Investment Management Inc. increased its holdings in Mohawk Industries by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 540,197 shares of the company’s stock valued at $61,680,000 after buying an additional 5,939 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Mohawk Industries by 443.9% in the 1st quarter. Bank of Nova Scotia now owns 18,216 shares of the company’s stock worth $2,080,000 after purchasing an additional 14,867 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Mohawk Industries by 4.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,386 shares of the company’s stock worth $1,186,000 after purchasing an additional 427 shares in the last quarter. IFG Advisory LLC grew its holdings in Mohawk Industries by 3.0% during the first quarter. IFG Advisory LLC now owns 31,168 shares of the company’s stock valued at $3,559,000 after purchasing an additional 909 shares during the period. Finally, Natixis Advisors LLC increased its position in Mohawk Industries by 8.6% in the first quarter. Natixis Advisors LLC now owns 83,607 shares of the company’s stock worth $9,546,000 after buying an additional 6,632 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Down 0.5%

Shares of MHK opened at $119.98 on Tuesday. The firm has a fifty day moving average price of $109.68 and a 200-day moving average price of $110.71. The company has a current ratio of 2.13, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $7.45 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.62 and a beta of 1.28. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.15. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the company posted $3.00 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Wall Street Analyst Weigh In

MHK has been the subject of a number of recent research reports. Barclays boosted their price objective on Mohawk Industries from $111.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Robert W. Baird increased their price objective on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. JPMorgan Chase & Co. lifted their target price on shares of Mohawk Industries from $139.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Wells Fargo & Company upped their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Finally, Evercore ISI decreased their price target on Mohawk Industries from $124.00 to $123.00 and set an “in-line” rating on the stock in a report on Monday, July 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $120.60, for a total value of $301,500.00. Following the completion of the transaction, the insider owned 91,084 shares of the company’s stock, valued at $10,984,730.40. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $120.81, for a total value of $1,932,960.00. Following the sale, the chief executive officer directly owned 33,600 shares in the company, valued at $4,059,216. This trade represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

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.