Point72 Asset Management L.P. Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Point72 Asset Management L.P. acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 119,394 shares of the company's stock, valued at approximately $14,223,000. Point72 Asset Management L.P. owned about 0.19% of Mohawk Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in MHK. Huntington National Bank increased its holdings in Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after acquiring an additional 119 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Mohawk Industries by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock worth $3,054,000 after purchasing an additional 120 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Mohawk Industries by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company's stock valued at $2,748,000 after purchasing an additional 150 shares during the period. BOKF NA boosted its holdings in Mohawk Industries by 1.2% in the 4th quarter. BOKF NA now owns 12,694 shares of the company's stock worth $1,499,000 after buying an additional 150 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Mohawk Industries by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 7,816 shares of the company's stock valued at $931,000 after buying an additional 190 shares in the last quarter. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Trading Down 1.8%

Shares of MHK traded down $1.79 during mid-day trading on Friday, reaching $100.53. The company's stock had a trading volume of 86,649 shares, compared to its average volume of 750,397. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The stock has a market cap of $6.29 billion, a PE ratio of 12.36, a P/E/G ratio of 1.44 and a beta of 1.24. The company's fifty day moving average price is $107.43 and its two-hundred day moving average price is $119.32. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results 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 net margin of 4.78% and a return on equity of 8.04%. 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 previous year, the firm posted $1.86 earnings per share. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. On average, analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada cut their price target on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a report on Monday, May 5th. Barclays reduced their target price on 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. cut their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, Bank of America cut their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $140.00.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction dated 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 directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.40% of the stock is currently owned by corporate insiders.

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.