Paloma Partners Management Co Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Paloma Partners Management Co bought a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the fourth quarter, Holdings Channel reports. The institutional investor bought 231,000 shares of the company’s stock, valued at approximately $27,519,000. Mohawk Industries accounts for 1.2% of Paloma Partners Management Co’s holdings, making the stock its 20th largest holding.

Other large investors also recently made changes to their positions in the company. Atlas FRM LLC increased its holdings in Mohawk Industries by 11.0% in the fourth quarter. Atlas FRM LLC now owns 405,000 shares of the company’s stock worth $48,248,000 after buying an additional 40,000 shares during the last quarter. Northern Trust Corp increased its holdings in Mohawk Industries by 5.4% in the fourth quarter. Northern Trust Corp now owns 507,474 shares of the company’s stock worth $60,455,000 after buying an additional 26,075 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in Mohawk Industries by 1,472.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 43,941 shares of the company’s stock worth $5,235,000 after buying an additional 41,146 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in Mohawk Industries by 1.4% during the fourth quarter. Boothbay Fund Management LLC now owns 72,474 shares of the company’s stock valued at $8,634,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Nebula Research & Development LLC grew its holdings in Mohawk Industries by 56.1% during the fourth quarter. Nebula Research & Development LLC now owns 2,280 shares of the company’s stock valued at $272,000 after purchasing an additional 819 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MHK shares. JPMorgan Chase & Co. reduced their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Evercore ISI reduced their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. Wells Fargo & Company reduced their target price on Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price target on the stock. Finally, Barclays decreased their price objective on shares of Mohawk Industries from $125.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average price target of $142.57.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries 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 transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 17.40% of the company’s stock.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $106.81 on Tuesday. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The firm has a market cap of $6.68 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $111.03 and a 200 day simple moving average of $124.13.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal 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.