D. E. Shaw & Co. Inc. Boosts Stake in Mohawk Industries, Inc. (NYSE:MHK)

D. E. Shaw & Co. Inc. raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 90.5% during the 4th quarter, Holdings Channel reports. The fund owned 215,247 shares of the company’s stock after purchasing an additional 102,271 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Mohawk Industries were worth $25,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Magnetar Financial LLC lifted its position in Mohawk Industries by 353.1% during the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock valued at $4,659,000 after acquiring an additional 30,477 shares during the last quarter. Sei Investments Co. increased its position in shares of Mohawk Industries by 46.3% during the fourth quarter. Sei Investments Co. now owns 91,586 shares of the company’s stock worth $10,911,000 after purchasing an additional 28,998 shares in the last quarter. Choreo LLC purchased a new stake in shares of Mohawk Industries during the 4th quarter valued at $258,000. Townsend & Associates Inc boosted its position in shares of Mohawk Industries by 1.2% in the 4th quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock worth $34,382,000 after purchasing an additional 3,078 shares in the last quarter. Finally, Sciencast Management LP grew its stake in Mohawk Industries by 59.1% during the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company’s stock worth $725,000 after buying an additional 2,262 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the company’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 completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MHK has been the subject of several recent analyst reports. 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 target for the company. Raymond James reiterated a “strong-buy” rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Barclays dropped their target price on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Truist Financial decreased their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Evercore ISI dropped their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Mohawk Industries Stock Up 1.2%

MHK opened at $106.36 on Monday. The company has a fifty day moving average of $108.83 and a two-hundred day moving average of $120.79. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.04% and a net margin of 4.78%. Mohawk Industries’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.86 earnings per share. On average, research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share 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.