Point72 Asset Management L.P. Invests $14.22 Million in Mohawk Industries, Inc. (NYSE:MHK)

Point72 Asset Management L.P. purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its position in Mohawk Industries by 14.9% during the fourth quarter. ProShare Advisors LLC now owns 7,599 shares of the company's stock worth $905,000 after buying an additional 985 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in Mohawk Industries in the 4th quarter worth approximately $92,000. Nomura Holdings Inc. bought a new stake in Mohawk Industries during the fourth quarter worth approximately $3,441,000. Millennium Management LLC grew its holdings in Mohawk Industries by 66.2% during the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company's stock valued at $107,017,000 after purchasing an additional 357,687 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Mohawk Industries by 2,257.0% in the fourth quarter. Lazard Asset Management LLC now owns 18,432 shares of the company's stock valued at $2,194,000 after purchasing an additional 17,650 shares during the period. Institutional investors own 78.98% of the company's stock.

Insider Activity at Mohawk Industries

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 value 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 $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MHK. Loop Capital lowered their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company lowered their price target on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Raymond James reiterated a "strong-buy" rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Bank of America decreased their target price on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, Barclays dropped their price target on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.00.

Mohawk Industries Stock Performance

MHK traded down $4.50 during trading on Wednesday, reaching $102.55. 386,435 shares of the company's stock were exchanged, compared to its average volume of 753,415. 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 business has a 50 day moving average price of $107.92 and a 200 day moving average price of $119.68. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The company has a market capitalization of $6.41 billion, a P/E ratio of 12.61, a PEG ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $2.56 billion. During the same period in the prior year, the firm posted $1.86 EPS. Mohawk Industries's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.