Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 66.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 898,322 shares of the company's stock after buying an additional 357,687 shares during the quarter. Millennium Management LLC owned about 1.42% of Mohawk Industries worth $107,017,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. purchased a new position in shares of Mohawk Industries in the 4th quarter valued at approximately $41,000. R Squared Ltd acquired a new stake in shares of Mohawk Industries during the fourth quarter worth $66,000. Huntington National Bank grew its position in Mohawk Industries by 27.4% in the 4th 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. Jones Financial Companies Lllp increased its stake in Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $85,000 after buying an additional 501 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in Mohawk Industries during the 4th quarter worth $88,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock traded up $0.40 on Friday, hitting $108.15. The company's stock had a trading volume of 700,734 shares, compared to its average volume of 756,273. The company has a market capitalization of $6.76 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The firm has a fifty day moving average price of $108.11 and a 200-day moving average price of $120.05. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. On average, equities research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the firm'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 transaction, the insider now owns 93,584 shares of the company's stock, 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 SEC, which is accessible through this link. 17.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on MHK shares. Royal Bank of Canada lowered their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective on the stock. Barclays cut their target price on 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. Robert W. Baird reduced their price target on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Finally, Bank of America dropped their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $140.00.

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.