11,594 Shares in Mohawk Industries, Inc. (NYSE:MHK) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,594 shares of the company’s stock, valued at approximately $1,317,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC boosted its position in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares during the last quarter. Quarry LP lifted its stake in Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Mohawk Industries during the 2nd quarter worth approximately $50,000. Quent Capital LLC grew its position in shares of Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares in the last quarter. Finally, AM Squared Ltd acquired a new stake in shares of Mohawk Industries in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the sale, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. The disclosure for this sale can be found here. Insiders sold a total of 4,415 shares of company stock worth $673,387 over the last 90 days. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

MHK opened at $158.17 on Friday. The stock’s 50-day moving average price is $147.37 and its 200 day moving average price is $127.66. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $164.05. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of -24.19, a PEG ratio of 1.15 and a beta of 1.37. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.25. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.76 earnings per share. As a group, sell-side analysts expect that Mohawk Industries, Inc. will post 10 earnings per share for the current year.

Analyst Upgrades and Downgrades

MHK has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Barclays boosted their target price on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Loop Capital raised their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company upped their price objective on Mohawk Industries from $110.00 to $140.00 and gave the company an “underweight” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

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.