Voloridge Investment Management LLC Sells 299,423 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Voloridge Investment Management LLC cut its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 96.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,354 shares of the company's stock after selling 299,423 shares during the period. Voloridge Investment Management LLC's holdings in Mohawk Industries were worth $1,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Mohawk Industries by 2.5% in 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. KBC Group NV raised its holdings in Mohawk Industries by 11.1% in the 4th quarter. KBC Group NV now owns 8,203 shares of the company's stock valued at $977,000 after acquiring an additional 819 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Mohawk Industries by 106.7% in the 4th 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. R Squared Ltd acquired a new stake in shares of Mohawk Industries during the 4th quarter worth approximately $66,000. Finally, Mather Group LLC. increased its position in shares of Mohawk Industries by 40.8% during the fourth quarter. Mather Group LLC. now owns 3,095 shares of the company's stock valued at $369,000 after purchasing an additional 897 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MHK. JPMorgan Chase & Co. decreased their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Bank of America lowered their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Robert W. Baird cut their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Barclays decreased their price objective on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Finally, Loop Capital cut their target price on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a research report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 17.40% of the stock is owned by insiders.

Mohawk Industries Price Performance

Shares of NYSE:MHK traded down $2.20 during midday trading on Monday, reaching $98.41. The company's stock had a trading volume of 824,768 shares, compared to its average volume of 756,238. The business's fifty day simple moving average is $105.52 and its 200-day simple moving average is $116.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The company has a market capitalization of $6.15 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 EPS. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 9.8 EPS 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.