Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners LP significantly increased its stake in Mohawk Industries by 40.2% during the first quarter, acquiring an additional 4,019 shares to reach a total of 14,018 shares worth approximately $1.6 million.
• Insider transactions included CEO Jeffrey S. Lorberbaum selling 16,000 shares for nearly $1.93 million, reducing their ownership by 32.26%.
• Analysts have raised their price targets on Mohawk Industries, with Robert W. Baird setting a new target of $142 and a consensus rating of "Moderate Buy."

CenterBook Partners LP grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 40.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,018 shares of the company's stock after purchasing an additional 4,019 shares during the period. CenterBook Partners LP's holdings in Mohawk Industries were worth $1,601,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MHK. Federated Hermes Inc. raised its stake in shares of Mohawk Industries by 326.3% during the first quarter. Federated Hermes Inc. now owns 243 shares of the company's stock valued at $28,000 after acquiring an additional 186 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $41,000. Allworth Financial LP increased its stake in shares of Mohawk Industries by 36.2% during the first quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Mufg Securities Americas Inc. bought a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $92,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $114,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Mohawk Industries stock traded down $1.23 during trading hours on Monday, reaching $119.39. 106,418 shares of the stock were exchanged, compared to its average volume of 807,297. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. 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 $7.42 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.62 and a beta of 1.28. The firm's 50 day moving average is $109.25 and its 200 day moving average is $110.75.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.15. The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The firm's revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $3.00 EPS. Analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the 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 transaction, the chief executive officer directly owned 33,600 shares in the company, valued at $4,059,216. This represents a 32.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Suzanne L. Helen sold 2,500 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider owned 91,084 shares in the company, valued at $10,984,730.40. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on MHK shares. JPMorgan Chase & Co. lifted their target price on shares of Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Barclays boosted their price target on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Royal Bank Of Canada restated a "sector perform" rating and issued a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Finally, Robert W. Baird upped their price target on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $140.14.

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.