Graham Capital Management L.P. Sells 10,220 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Graham Capital Management L.P. lowered its stake in Mohawk Industries, Inc. (NYSE:MHK) by 69.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,500 shares of the company’s stock after selling 10,220 shares during the quarter. Graham Capital Management L.P.’s holdings in Mohawk Industries were worth $536,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Huntington National Bank raised its holdings in Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after buying an additional 119 shares during the last quarter. Contravisory Investment Management Inc. increased its position in shares of Mohawk Industries by 2.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after buying an additional 121 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Mohawk Industries by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock worth $819,000 after purchasing an additional 130 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Mohawk Industries by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company’s stock valued at $2,748,000 after acquiring an additional 150 shares in the last quarter. Finally, BOKF NA raised its stake in Mohawk Industries by 1.2% in the fourth quarter. BOKF NA now owns 12,694 shares of the company’s stock valued at $1,499,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Trading Up 0.4%

Shares of NYSE:MHK opened at $107.73 on Friday. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 13.25, a PEG 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 stock’s 50-day simple moving average is $108.20 and its two-hundred day simple moving average is $120.33.

Mohawk Industries (NYSE:MHK) last announced its 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. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. Analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MHK. StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Barclays dropped their price target 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. 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, May 5th. JPMorgan Chase & Co. lowered their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Finally, Evercore ISI dropped their target price on 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated 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 sale, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.40% of the stock is owned by corporate insiders.

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.