Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by PDT Partners LLC

PDT Partners LLC reduced its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 34.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,243 shares of the company's stock after selling 5,901 shares during the period. PDT Partners LLC's holdings in Mohawk Industries were worth $1,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries in the third quarter valued at $55,000. Tidal Investments LLC increased its stake in shares of Mohawk Industries by 9.4% during the third quarter. Tidal Investments LLC now owns 13,810 shares of the company's stock worth $2,219,000 after buying an additional 1,188 shares during the period. Franklin Resources Inc. raised its holdings in Mohawk Industries by 32.8% in the third quarter. Franklin Resources Inc. now owns 37,162 shares of the company's stock valued at $5,878,000 after acquiring an additional 9,173 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Mohawk Industries by 4.4% in the third quarter. Principal Financial Group Inc. now owns 61,724 shares of the company's stock worth $9,918,000 after acquiring an additional 2,601 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock worth $485,983,000 after acquiring an additional 74,123 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Price Performance

Mohawk Industries stock traded up $0.26 during midday trading on Tuesday, reaching $101.68. 221,275 shares of the company were exchanged, compared to its average volume of 742,407. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The firm's 50-day simple moving average is $109.82 and its 200-day simple moving average is $122.21. 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 issued its quarterly earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping 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 business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous 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, analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MHK shares. JPMorgan Chase & Co. dropped their price objective on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday. Royal Bank of Canada reduced their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research report on Monday. Bank of America dropped their price objective 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. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price target on the stock. Finally, Evercore ISI decreased their price target on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

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.