Marshall Wace LLP Trims Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Marshall Wace LLP trimmed its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 462,226 shares of the company’s stock after selling 33,886 shares during the quarter. Marshall Wace LLP owned approximately 0.72% of Mohawk Industries worth $52,504,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC increased its stake in shares of Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in Mohawk Industries by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock valued at $1,430,000 after purchasing an additional 98 shares during the period. State of Michigan Retirement System increased its position in Mohawk Industries by 0.7% in the second quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock worth $1,652,000 after buying an additional 100 shares in the last quarter. Quent Capital LLC raised its stake in shares of Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after buying an additional 106 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of Mohawk Industries by 7.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,343 shares of the company’s stock valued at $266,000 after buying an additional 154 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Trading Down 1.7 %

MHK stock opened at $154.34 on Thursday. The firm has a fifty day moving average price of $149.56 and a 200 day moving average price of $128.73. Mohawk Industries, Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $164.05. The firm has a market cap of $9.74 billion, a PE ratio of -23.60, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion during 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 revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $2.76 EPS. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 10 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction that occurred 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 completion of the transaction, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares in the company, valued at approximately $18,042,624.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was 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 of the company’s stock, valued at approximately $17,979,665.14. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock worth $673,387 over the last ninety days. Company insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on MHK shares. Barclays raised their target price on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Robert W. Baird upped their price objective on Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Loop Capital lifted their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.00.

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.