Rafferty Asset Management LLC Increases Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Rafferty Asset Management LLC lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,442 shares of the company's stock after acquiring an additional 3,528 shares during the period. Rafferty Asset Management LLC's holdings in Mohawk Industries were worth $2,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MHK. Magnetar Financial LLC raised its stake in Mohawk Industries by 353.1% during the 4th quarter. Magnetar Financial LLC now owns 39,108 shares of the company's stock valued at $4,659,000 after buying an additional 30,477 shares during the last quarter. Sei Investments Co. raised its stake in Mohawk Industries by 46.3% during the 4th quarter. Sei Investments Co. now owns 91,586 shares of the company's stock valued at $10,911,000 after buying an additional 28,998 shares during the last quarter. Choreo LLC purchased a new stake in Mohawk Industries during the 4th quarter valued at $258,000. Townsend & Associates Inc raised its stake in Mohawk Industries by 1.2% during the 4th quarter. Townsend & Associates Inc now owns 263,143 shares of the company's stock valued at $34,382,000 after buying an additional 3,078 shares during the last quarter. Finally, Sciencast Management LP raised its stake in Mohawk Industries by 59.1% during the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company's stock valued at $725,000 after buying an additional 2,262 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Price Performance

MHK stock traded down $1.20 during mid-day trading on Friday, hitting $101.12. The company had a trading volume of 375,688 shares, compared to its average volume of 754,162. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $107.16 and a 200 day moving average price of $118.67.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share 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 firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm posted $1.86 EPS. The business's quarterly revenue was down 5.7% on a year-over-year basis. On average, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on MHK. Robert W. Baird lowered their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Evercore ISI cut their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research report on Monday, February 10th. Wells Fargo & Company cut their price objective on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. 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's stock. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.