Jefferies Financial Group Inc. Cuts Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Key Points

• Jefferies Financial Group Inc. reduced its stake in Mohawk Industries by 48.6%, lowering its holdings to 3,445 shares worth $393,000 at the end of the first quarter.
• Several institutional investors have increased their stakes in Mohawk Industries, with Franklin Resources Inc. raising its position by 31.4% during the fourth quarter.
• Analysts have mixed opinions on Mohawk Industries, with price targets ranging from $123.00 to $142.00, reflecting a general consensus rating of "Moderate Buy".

Jefferies Financial Group Inc. cut its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 48.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,445 shares of the company's stock after selling 3,258 shares during the period. Jefferies Financial Group Inc.'s holdings in Mohawk Industries were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sound Shore Management Inc. CT acquired a new stake in shares of Mohawk Industries during the 1st quarter worth about $61,159,000. Millennium Management LLC boosted its holdings in shares of Mohawk Industries by 66.2% during the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company's stock worth $107,017,000 after acquiring an additional 357,687 shares during the period. GAMMA Investing LLC grew its position in shares of Mohawk Industries by 12,165.8% in the first quarter. GAMMA Investing LLC now owns 310,570 shares of the company's stock valued at $35,461,000 after purchasing an additional 308,038 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Mohawk Industries by 394.5% during the fourth quarter. Two Sigma Investments LP now owns 313,547 shares of the company's stock worth $37,353,000 after purchasing an additional 250,145 shares during the period. Finally, Invesco Ltd. increased its position in Mohawk Industries by 16.3% during the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock worth $205,545,000 after buying an additional 241,448 shares during the period. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Stock Up 0.1%

NYSE:MHK traded up $0.07 during mid-day trading on Friday, hitting $120.52. 490,705 shares of the company's stock were exchanged, compared to its average volume of 942,194. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The business has a fifty day moving average price of $109.25 and a 200 day moving average price of $110.89. The company has a market cap of $7.49 billion, a PE ratio of 16.03, a P/E/G ratio of 2.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.15. The company 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%. Mohawk Industries's revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. Equities analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MHK shares. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Wells Fargo & Company lifted their price objective on Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Robert W. Baird boosted their price target on Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Evercore ISI cut their price objective on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a research report on Monday, July 28th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $140.14.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 2,500 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.60, for a total value of $301,500.00. Following the transaction, the insider directly owned 91,084 shares of the company's stock, valued at approximately $10,984,730.40. This trade represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 33,600 shares of the company's stock, 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.

Mohawk Industries Company 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.