Cramer Rosenthal Mcglynn LLC decreased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 39.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,264 shares of the company’s stock after selling 131,231 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.27% of Mohawk Industries worth $54,425,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its position in Mohawk Industries by 10.4% during the 4th quarter. BlackRock Inc. now owns 5,046,157 shares of the company’s stock valued at $1,392,234,000 after acquiring an additional 477,056 shares during the period. Ruane Cunniff & Goldfarb Inc. lifted its position in Mohawk Industries by 4.9% during the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,377,558 shares of the company’s stock valued at $340,959,000 after acquiring an additional 64,707 shares during the period. Dimensional Fund Advisors LP lifted its position in Mohawk Industries by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,119,683 shares of the company’s stock valued at $277,137,000 after acquiring an additional 47,261 shares during the period. Wells Fargo & Company MN lifted its position in Mohawk Industries by 16.2% during the 4th quarter. Wells Fargo & Company MN now owns 1,013,789 shares of the company’s stock valued at $279,705,000 after acquiring an additional 141,022 shares during the period. Finally, Third Point LLC lifted its position in Mohawk Industries by 2.9% during the 3rd quarter. Third Point LLC now owns 900,000 shares of the company’s stock valued at $222,759,000 after acquiring an additional 25,000 shares during the period. 78.68% of the stock is currently owned by hedge funds and other institutional investors.
Mohawk Industries, Inc. (MHK) opened at $247.93 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.53 and a debt-to-equity ratio of 0.22. The stock has a market cap of $18,234.24, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.72 and a beta of 1.37. Mohawk Industries, Inc. has a twelve month low of $223.84 and a twelve month high of $286.85.
In related news, Director William Henry Runge III acquired 500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was purchased at an average cost of $250.87 per share, with a total value of $125,435.00. Following the completion of the acquisition, the director now directly owns 2,335 shares of the company’s stock, valued at $585,781.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rodney David Patton sold 911 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $236.00, for a total transaction of $214,996.00. The disclosure for this sale can be found here. Insiders have sold 29,983 shares of company stock valued at $7,464,138 over the last three months. 17.00% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on MHK shares. Goldman Sachs Group cut shares of Mohawk Industries from a “conviction-buy” rating to a “buy” rating and lowered their price target for the company from $306.00 to $292.00 in a research report on Thursday, March 1st. Zacks Investment Research cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Longbow Research raised shares of Mohawk Industries from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Robert W. Baird lowered their price target on shares of Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, ValuEngine raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Mohawk Industries currently has a consensus rating of “Buy” and a consensus price target of $293.07.
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About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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