Worldquant Millennium Advisors LLC Decreases Position in Mohawk Industries, Inc. (NYSE:MHK)

Worldquant Millennium Advisors LLC reduced its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 41.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,636 shares of the company's stock after selling 2,575 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Mohawk Industries were worth $433,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock valued at $485,983,000 after buying an additional 74,123 shares during the period. Olstein Capital Management L.P. lifted its stake in shares of Mohawk Industries by 30.4% in the fourth quarter. Olstein Capital Management L.P. now owns 70,000 shares of the company's stock worth $8,339,000 after buying an additional 16,300 shares in the last quarter. KBC Group NV lifted its holdings in shares of Mohawk Industries by 11.1% during the fourth quarter. KBC Group NV now owns 8,203 shares of the company's stock valued at $977,000 after purchasing an additional 819 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Mohawk Industries by 106.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,259 shares of the company's stock worth $984,000 after acquiring an additional 4,264 shares during the period. Finally, Parkside Investments LLC lifted its holdings in shares of Mohawk Industries by 40.0% during the 4th quarter. Parkside Investments LLC now owns 7,000 shares of the company's stock valued at $834,000 after buying an additional 2,000 shares during the period. Institutional investors own 78.98% of the company's stock.

Wall Street Analysts Forecast Growth

MHK has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Raymond James reissued a "strong-buy" rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They set a "hold" rating and a $121.00 price target for the company. Bank of America lowered their price target on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a report on Monday, February 10th. Finally, Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.00.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now 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 document filed with the Securities & Exchange Commission, which is available at this link. 17.40% of the stock is currently owned by company insiders.

Mohawk Industries Trading Up 3.3%

Mohawk Industries stock traded up $3.29 during midday trading on Tuesday, reaching $104.39. 423,798 shares of the stock traded hands, compared to its average volume of 781,776. The firm has a market cap of $6.53 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $106.89 and a two-hundred day simple moving average of $118.36. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (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 company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the business earned $1.86 EPS. The firm's quarterly revenue was down 5.7% on a year-over-year basis. Research analysts expect 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.