one8zero8 LLC Acquires Shares of 2,725 Mohawk Industries, Inc. (NYSE:MHK)

Key Points

• one8zero8 LLC acquired 2,725 shares of Mohawk Industries, Inc., valued at approximately $311,000, during the 1st quarter of the year.
• Mohawk Industries reported a net margin of 4.44% and an EPS of $2.77, beating analysts' expectations for the quarter.
• The current average rating for Mohawk Industries' stock is "Moderate Buy," with a consensus price target of $140.71 from analysts.

one8zero8 LLC acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,725 shares of the company's stock, valued at approximately $311,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Empirical Finance LLC increased its position in Mohawk Industries by 9.5% during the 1st quarter. Empirical Finance LLC now owns 1,953 shares of the company's stock valued at $223,000 after purchasing an additional 170 shares during the period. HB Wealth Management LLC bought a new stake in shares of Mohawk Industries during the 1st quarter valued at $235,000. Sound Shore Management Inc. CT bought a new stake in shares of Mohawk Industries during the 1st quarter valued at $61,159,000. Machina Capital S.A.S. bought a new stake in shares of Mohawk Industries during the 1st quarter valued at $745,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of Mohawk Industries during the 1st quarter valued at $199,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Evercore ISI dropped their target price on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday. Barclays boosted their target price on shares of Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday. Robert W. Baird boosted their target price on shares of Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a report on Monday. Finally, Wells Fargo & Company upped their price target on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Seven 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $140.14.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,500 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $120.60, for a total transaction of $301,500.00. Following the completion of the sale, the insider owned 91,084 shares of the company's stock, valued at $10,984,730.40. This represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the sale, the chief executive officer directly owned 33,600 shares of the company's stock, valued at $4,059,216. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. 17.40% of the stock is owned by corporate insiders.

Mohawk Industries Stock Performance

Shares of NYSE MHK traded down $1.87 during midday trading on Thursday, hitting $115.36. 284,341 shares of the company's stock traded hands, compared to its average volume of 806,691. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 3.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. The firm has a fifty day moving average of $106.54 and a 200 day moving average of $111.42.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.62 by $0.15. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current 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.