ING Groep NV Grows Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

ING Groep NV grew its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 803.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,191 shares of the company’s stock after purchasing an additional 32,185 shares during the quarter. ING Groep NV owned about 0.06% of Mohawk Industries worth $4,311,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Choreo LLC purchased a new position in Mohawk Industries in the 4th quarter worth approximately $258,000. Meeder Asset Management Inc. lifted its stake in Mohawk Industries by 8.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after purchasing an additional 6,863 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after purchasing an additional 74,123 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Mohawk Industries by 19.8% during the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock valued at $14,056,000 after buying an additional 14,480 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Mohawk Industries during the 4th quarter valued at approximately $536,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the transaction, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 19,078 shares of company stock worth $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MHK has been the topic of several analyst reports. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Evercore ISI reduced their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. Raymond James reiterated a “strong-buy” rating and issued a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Finally, Wells Fargo & Company dropped their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Six equities 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Stock Performance

NYSE:MHK opened at $115.89 on Friday. The company has a fifty day simple moving average of $121.69 and a two-hundred day simple moving average of $138.35. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52 week low of $104.88 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal 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.