Freestone Grove Partners LP Invests $8.09 Million in Mohawk Industries, Inc. (NYSE:MHK)

Freestone Grove Partners LP purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 67,924 shares of the company's stock, valued at approximately $8,092,000. Freestone Grove Partners LP owned approximately 0.11% of Mohawk Industries at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the fourth quarter worth about $41,000. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries in the third quarter valued at about $55,000. Versant Capital Management Inc grew its position in shares of Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company's stock valued at $64,000 after acquiring an additional 223 shares during the period. R Squared Ltd purchased a new position in Mohawk Industries during the fourth quarter valued at approximately $66,000. Finally, Huntington National Bank raised its position in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after buying an additional 119 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MHK shares. Bank of America reduced their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Wolfe Research upgraded shares of Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Wednesday, January 8th. Raymond James reaffirmed a "strong-buy" rating and set a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Royal Bank of Canada cut their price objective on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $140.00.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm'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 sale, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 17.40% of the company's stock.

Mohawk Industries Stock Down 0.4 %

Shares of MHK stock traded down $0.40 during trading hours on Wednesday, reaching $100.94. 402,866 shares of the company's stock were exchanged, compared to its average volume of 745,554. The stock's fifty day moving average price is $109.52 and its two-hundred day moving average price is $122.07. The stock has a market cap of $6.31 billion, a PE ratio of 12.42, a PEG ratio of 1.44 and a beta of 1.24. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. 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 announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating 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 business's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 earnings per share. Research analysts predict that Mohawk Industries, Inc. will post 9.8 EPS 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.