Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by ING Groep NV

ING Groep NV trimmed its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 55.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,990 shares of the company's stock after selling 20,201 shares during the quarter. ING Groep NV's holdings in Mohawk Industries were worth $1,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MHK. Sound Shore Management Inc. CT acquired a new position in Mohawk Industries during the first quarter worth about $61,159,000. Millennium Management LLC grew its position in 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 buying an additional 357,687 shares during the period. GAMMA Investing LLC grew its position in Mohawk Industries by 12,165.8% during the first quarter. GAMMA Investing LLC now owns 310,570 shares of the company's stock worth $35,461,000 after buying an additional 308,038 shares during the period. Two Sigma Investments LP grew its position in 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 buying an additional 250,145 shares during the period. Finally, Invesco Ltd. grew its position in Mohawk Industries by 16.3% during the fourth 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the transaction, the chief executive officer owned 33,600 shares of the company's stock, valued at $4,059,216. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 2,500 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.60, for a total transaction of $301,500.00. Following the completion of the sale, the insider directly owned 91,084 shares of the company's stock, valued at $10,984,730.40. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.40% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Robert W. Baird upped their price target on shares of Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company upped their price target on shares of Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Finally, Barclays upped their price target on shares of Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.14.

Mohawk Industries Trading Up 0.1%

Shares of MHK traded up $0.07 on Friday, hitting $120.52. 490,705 shares of the stock traded hands, compared to its average volume of 942,194. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $7.49 billion, a P/E ratio of 16.03, a P/E/G ratio of 2.62 and a beta of 1.28. The stock's 50 day moving average is $109.25 and its two-hundred day moving average is $110.89. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share 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 the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 earnings per share. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

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.