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

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

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

Mohawk Industries Trading Up 1.2 %

Shares of MHK traded up $1.25 during trading hours on Friday, reaching $106.36. The stock had a trading volume of 784,706 shares, compared to its average volume of 749,993. The firm has a 50-day moving average of $108.83 and a 200 day moving average of $121.22. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The company has a market cap of $6.65 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The business's revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.40% of the stock is owned by insiders.

Analysts Set New Price Targets

MHK has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday. Raymond James reaffirmed a "strong-buy" rating and set a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Royal Bank of Canada decreased their price objective 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. Loop Capital lowered their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a report on Monday, February 10th. Finally, Robert W. Baird decreased their price objective on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

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.