Machina Capital S.A.S. Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Key Points

• Machina Capital S.A.S. has acquired a new position in Mohawk Industries, purchasing 6,526 shares valued at approximately $745,000 in the first quarter of the year.
• Analysts have recently downgraded Mohawk Industries, with target prices reduced by several firms, including Royal Bank of Canada and Barclays.
• Mohawk Industries reported earnings of $2.77 per share, surpassing analysts' expectations, with a revenue of $2.80 billion for the quarter.

Machina Capital S.A.S. bought a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,526 shares of the company's stock, valued at approximately $745,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Convergence Investment Partners LLC purchased a new stake in shares of Mohawk Industries during the first quarter worth about $199,000. Venturi Wealth Management LLC increased its holdings in Mohawk Industries by 4.7% in the first quarter. Venturi Wealth Management LLC now owns 2,899 shares of the company's stock valued at $331,000 after buying an additional 131 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Mohawk Industries by 3.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock valued at $457,000 after buying an additional 126 shares during the last quarter. South Dakota Investment Council increased its holdings in Mohawk Industries by 116.6% in the first quarter. South Dakota Investment Council now owns 44,769 shares of the company's stock valued at $5,112,000 after buying an additional 24,098 shares during the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Mohawk Industries by 2.5% in the first quarter. Pzena Investment Management LLC now owns 1,115,944 shares of the company's stock valued at $127,418,000 after buying an additional 27,676 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Performance

MHK stock traded up $0.94 on Monday, reaching $121.84. The company's stock had a trading volume of 337,008 shares, compared to its average volume of 799,154. The company has a market capitalization of $7.62 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 4.47 and a beta of 1.18. 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, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The firm has a fifty day moving average of $106.00 and a two-hundred day moving average of $111.34.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.15. The firm had revenue of $2.80 billion during 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 firm's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the company posted $3.00 EPS. As a group, analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MHK. Royal Bank Of Canada reissued a "sector perform" rating and issued a $123.00 price objective (up from $119.00) on shares of Mohawk Industries in a report on Monday. Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. Evercore ISI decreased their target price on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a research note on Monday. Finally, Barclays set a $125.00 target price on Mohawk Industries and gave the company an "equal weight" rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $140.07.

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.