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

Worldquant Millennium Advisors LLC trimmed its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 41.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,636 shares of the company's stock after selling 2,575 shares during the period. Worldquant Millennium Advisors LLC's holdings in Mohawk Industries were worth $433,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Mohawk Industries by 2.5% in the 3rd 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 last quarter. Olstein Capital Management L.P. lifted its holdings 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 valued at $8,339,000 after purchasing an additional 16,300 shares in the last quarter. KBC Group NV lifted its holdings in shares of Mohawk Industries by 11.1% in 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. lifted its holdings 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 valued at $984,000 after purchasing an additional 4,264 shares in the last quarter. Finally, Parkside Investments LLC lifted its holdings in shares of Mohawk Industries by 40.0% in the fourth quarter. Parkside Investments LLC now owns 7,000 shares of the company's stock valued at $834,000 after purchasing an additional 2,000 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded down $2.50 during midday trading on Wednesday, reaching $102.10. The company's stock had a trading volume of 130,224 shares, compared to its average volume of 751,896. The firm has a market capitalization of $6.38 billion, a PE ratio of 12.56, a P/E/G ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The stock has a fifty day moving average of $106.70 and a 200 day moving average of $118.26. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company's revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. On average, equities analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America dropped their target price on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Royal Bank of Canada reduced their price target 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. Truist Financial reduced their target price on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Barclays decreased their target price 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. Seven 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $140.00.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This trade represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 17.40% of the company's stock.

About Mohawk Industries

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.