CenterBook Partners LP Buys 4,019 Shares of Mohawk Industries, Inc. (NYSE:MHK)

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 boosted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 40.2% in the first quarter, according to its most recent 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MHK. Federated Hermes Inc. increased its stake in shares of Mohawk Industries by 326.3% in the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company's stock valued at $28,000 after buying an additional 186 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of Mohawk Industries in the 4th quarter valued at $41,000. Allworth Financial LP increased its stake in shares of Mohawk Industries by 36.2% in the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after buying an additional 158 shares during the period. Mufg Securities Americas Inc. acquired a new stake in shares of Mohawk Industries in the 4th quarter valued at $92,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Mohawk Industries in the 4th quarter valued at $114,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mohawk Industries

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on MHK shares. JPMorgan Chase & Co. lifted their target price on Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Barclays raised their price target on Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Robert W. Baird raised their price target on Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Evercore ISI reduced their price target on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research report on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.14.

Mohawk Industries Trading Up 0.1%

MHK stock traded up $0.07 during midday trading on Friday, hitting $120.52. 490,705 shares of the company's stock were exchanged, compared to its average volume of 942,194. The stock's fifty day moving average price is $109.25 and its 200-day moving average price is $111.03. 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 company has a market cap of $7.49 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.28. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.15. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The company's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.00 earnings per share. Research 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.