Sei Investments Co. Purchases 28,998 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Sei Investments Co. grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 46.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 91,586 shares of the company’s stock after acquiring an additional 28,998 shares during the quarter. Sei Investments Co. owned about 0.15% of Mohawk Industries worth $10,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hantz Financial Services Inc. lifted its position in Mohawk Industries by 7.5% during the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in shares of Mohawk Industries by 2.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after purchasing an additional 121 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Mohawk Industries by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock worth $819,000 after purchasing an additional 130 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Mohawk Industries by 11.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,518 shares of the company’s stock valued at $244,000 after buying an additional 161 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Mohawk Industries by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 7,816 shares of the company’s stock worth $931,000 after buying an additional 190 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on MHK shares. Wells Fargo & Company dropped their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Barclays decreased their target price on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Raymond James restated a “strong-buy” rating and issued a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Bank of America dropped their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Six 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. Based on data from MarketBeat, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $146.92.

Mohawk Industries Stock Down 2.9 %

Shares of MHK stock opened at $113.78 on Friday. The stock’s fifty day moving average price is $119.00 and its 200 day moving average price is $132.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries, Inc. has a 1-year low of $104.88 and a 1-year high of $164.29. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 17.10% 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.