Mohawk Industries, Inc. (NYSE:MHK) Stake Boosted by Css LLC Il

CSS LLC IL raised its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 67.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,245 shares of the company's stock after acquiring an additional 2,910 shares during the period. CSS LLC IL's holdings in Mohawk Industries were worth $863,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries in the fourth quarter worth $41,000. R Squared Ltd acquired a new stake in shares of Mohawk Industries in the 4th quarter worth about $66,000. Huntington National Bank increased its holdings in shares of 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 period. Jones Financial Companies Lllp lifted its position in Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $85,000 after purchasing an additional 501 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in Mohawk Industries during the 4th quarter valued at about $88,000. Institutional investors own 78.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MHK. Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada lowered their target price on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research report on Monday, May 5th. Barclays reduced their price target on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Evercore ISI lowered their price target on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a report on Monday, February 10th. Finally, Bank of America cut their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $140.00.

Mohawk Industries Price Performance

Mohawk Industries stock traded up $2.10 during midday trading on Tuesday, hitting $103.20. The company's stock had a trading volume of 131,683 shares, compared to its average volume of 751,753. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. 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 company has a market capitalization of $6.45 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The stock's 50-day moving average price is $106.89 and its 200-day moving average price is $118.36.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm earned $1.86 EPS. The business's revenue for the quarter was down 5.7% on a year-over-year basis. Analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares of the company's stock, valued at $10,616,168.96. This trade represents a 10.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 17.40% of the stock is currently owned by company insiders.

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.