SeaBridge Investment Advisors LLC Buys New Stake in Mohawk Industries, Inc. (NYSE:MHK)

SeaBridge Investment Advisors LLC purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the 1st quarter, HoldingsChannel reports. The firm purchased 1,811 shares of the company’s stock, valued at approximately $207,000.

A number of other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Mohawk Industries in the 4th quarter valued at about $4,891,000. Commonwealth Equity Services LLC acquired a new stake in Mohawk Industries in the fourth quarter valued at approximately $482,000. Cibc World Markets Corp increased its position in shares of Mohawk Industries by 45.2% in the fourth quarter. Cibc World Markets Corp now owns 5,908 shares of the company’s stock valued at $704,000 after buying an additional 1,839 shares in the last quarter. Magnetar Financial LLC raised its stake in shares of Mohawk Industries by 353.1% during the 4th quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock worth $4,659,000 after buying an additional 30,477 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in shares of Mohawk Industries during the 4th quarter valued at approximately $341,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a research 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 shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Wall Street Zen lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada reduced their price objective on Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a research note 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. According to data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average price target of $140.71.

Mohawk Industries Trading Up 1.1%

Shares of MHK opened at $109.02 on Thursday. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The firm has a market capitalization of $6.82 billion, a P/E ratio of 14.27, a P/E/G ratio of 4.21 and a beta of 1.18. The firm has a 50-day moving average price of $105.12 and a 200 day moving average price of $111.60. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.22.

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

Mohawk Industries Company 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.