Cubist Systematic Strategies LLC Buys 115,115 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Cubist Systematic Strategies LLC boosted its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 417.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,684 shares of the company's stock after purchasing an additional 115,115 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.23% of Mohawk Industries worth $16,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Magnetar Financial LLC raised its holdings in shares of Mohawk Industries by 353.1% during the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company's stock worth $4,659,000 after acquiring an additional 30,477 shares during the period. Sei Investments Co. grew its holdings in shares of Mohawk Industries by 46.3% during the fourth quarter. Sei Investments Co. now owns 91,586 shares of the company's stock worth $10,911,000 after buying an additional 28,998 shares in the last quarter. Choreo LLC acquired a new stake in Mohawk Industries in the 4th quarter valued at approximately $258,000. Townsend & Associates Inc lifted its stake in Mohawk Industries by 1.2% in the 4th quarter. Townsend & Associates Inc now owns 263,143 shares of the company's stock valued at $34,382,000 after acquiring an additional 3,078 shares in the last quarter. Finally, Sciencast Management LP boosted its position in Mohawk Industries by 59.1% during the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company's stock worth $725,000 after acquiring an additional 2,262 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Price Performance

MHK traded up $3.20 on Monday, hitting $109.51. 425,273 shares of the stock were exchanged, compared to its average volume of 798,989. The business has a 50-day moving average of $108.83 and a two-hundred day moving average of $120.79. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the company earned $1.86 EPS. Mohawk Industries'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 fiscal year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This trade represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MHK. Barclays reduced their target price 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. Robert W. Baird decreased their price target on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Truist Financial cut their price objective on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a report on Monday, February 10th. Royal Bank of Canada lowered their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. Finally, Evercore ISI lowered their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $140.00.

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.