Union Square Park Capital Management LLC Has $3.57 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

Union Square Park Capital Management LLC increased its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company's stock after buying an additional 10,000 shares during the period. Mohawk Industries comprises 2.3% of Union Square Park Capital Management LLC's portfolio, making the stock its 16th largest holding. Union Square Park Capital Management LLC's holdings in Mohawk Industries were worth $3,574,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Mohawk Industries in the fourth quarter worth $61,171,000. Millennium Management LLC boosted its stake in shares of Mohawk Industries by 66.2% in the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company's stock valued at $107,017,000 after purchasing an additional 357,687 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Mohawk Industries by 35.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock valued at $162,793,000 after purchasing an additional 354,656 shares during the period. American Century Companies Inc. boosted its stake in shares of Mohawk Industries by 48.7% in the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company's stock valued at $114,224,000 after purchasing an additional 313,897 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Mohawk Industries by 394.5% in the fourth quarter. Two Sigma Investments LP now owns 313,547 shares of the company's stock valued at $37,353,000 after purchasing an additional 250,145 shares during the period. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction on 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 owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MHK. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Barclays decreased their target price on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company decreased their target price on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Evercore ISI reduced their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. Finally, Robert W. Baird reduced 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. Seven equities research 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.00.

Mohawk Industries Stock Down 1.2%

NYSE MHK traded down $1.20 during trading on Friday, reaching $101.12. The company's stock had a trading volume of 375,688 shares, compared to its average volume of 754,162. 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 stock has a market capitalization of $6.32 billion, a PE ratio of 12.44, a PEG ratio of 1.44 and a beta of 1.24. The business has a 50-day moving average price of $107.16 and a 200-day moving average price of $118.85. 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 released its quarterly earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating 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 quarter last year, the firm posted $1.86 earnings per share. The company's quarterly revenue was down 5.7% compared to the same quarter last year. On average, research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Mohawk Industries Company 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.