XTX Topco Ltd Buys Shares of 6,566 Mohawk Industries, Inc. (NYSE:MHK)

Key Points

• XTX Topco Ltd has acquired a new stake in Mohawk Industries, purchasing 6,566 shares valued at approximately $750,000 in the first quarter.
• Institutional investors hold 78.98% of Mohawk Industries stock, indicating strong institutional interest in the company.
• Mohawk Industries reported $2.77 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $2.80 billion.

XTX Topco Ltd acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,566 shares of the company's stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Mohawk Industries by 16.3% during the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock valued at $205,545,000 after acquiring an additional 241,448 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Mohawk Industries by 4.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,421,965 shares of the company's stock worth $162,360,000 after buying an additional 55,448 shares during the last quarter. Geode Capital Management LLC lifted its stake in Mohawk Industries by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock valued at $154,488,000 after acquiring an additional 22,736 shares during the period. Pzena Investment Management LLC boosted its holdings in Mohawk Industries by 2.5% during the first quarter. Pzena Investment Management LLC now owns 1,115,944 shares of the company's stock worth $127,418,000 after buying an additional 27,676 shares in the last quarter. Finally, Millennium Management LLC raised 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 acquiring an additional 357,687 shares during the period. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Performance

Mohawk Industries stock traded up $0.27 during mid-day trading on Friday, reaching $120.72. The company had a trading volume of 213,369 shares, compared to its average volume of 810,095. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 2.64 and a beta of 1.28. The company has a 50 day moving average of $108.85 and a 200-day moving average of $111.10. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.15. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The company's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.00 EPS. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

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

Analyst Ratings Changes

A number of research firms have weighed in on MHK. Robert W. Baird raised their price objective on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Wall Street Zen cut Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Wells Fargo & Company raised their price target on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Barclays lifted their price objective on Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Mohawk Industries currently has a consensus rating of "Moderate Buy" and an average price target of $140.14.

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.