Assenagon Asset Management S.A. Grows Position in Mohawk Industries, Inc. (NYSE:MHK)

Assenagon Asset Management S.A. raised its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,012 shares of the company’s stock after buying an additional 2,477 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Mohawk Industries worth $5,825,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of Mohawk Industries during the fourth quarter worth $41,000. Huntington National Bank grew its holdings in shares of Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Mohawk Industries by 233.0% in the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $85,000 after purchasing an additional 501 shares during the period. Mufg Securities Americas Inc. purchased a new stake in shares of Mohawk Industries in the fourth quarter valued at about $92,000. Finally, Palouse Capital Management Inc. purchased a new stake in shares of Mohawk Industries in the fourth quarter valued at about $102,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MHK. Barclays dropped their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price objective for the company. Wall Street Zen lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Finally, Wells Fargo & Company decreased 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 report on Monday, April 14th. Seven research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Mohawk Industries Stock Down 3.4%

Shares of MHK opened at $101.25 on Friday. The stock has a market capitalization of $6.33 billion, a PE ratio of 12.45, a P/E/G ratio of 1.44 and a beta of 1.19. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29. 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’s 50-day simple moving average is $104.16 and its 200-day simple moving average is $114.83.

Mohawk Industries (NYSE:MHK) last issued its quarterly 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. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 earnings per share. Analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share 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.