GAMMA Investing LLC Raises Stake in Mohawk Industries, Inc. (NYSE:MHK)

GAMMA Investing LLC grew its position in Mohawk Industries, Inc. (NYSE:MHK) by 12,165.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 310,570 shares of the company’s stock after buying an additional 308,038 shares during the period. GAMMA Investing LLC’s holdings in Mohawk Industries were worth $35,461,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new position in Mohawk Industries in the fourth quarter worth about $41,000. Huntington National Bank raised its holdings in Mohawk Industries by 27.4% in 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. Jones Financial Companies Lllp raised its holdings in Mohawk Industries by 233.0% in the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $85,000 after buying an additional 501 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Mohawk Industries in the fourth quarter worth about $88,000. Finally, Mufg Securities Americas Inc. bought a new stake in shares of Mohawk Industries in the fourth quarter worth approximately $92,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.40% of the company’s stock.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $100.65 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company has a market capitalization of $6.29 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.44 and a beta of 1.24. The firm’s 50 day simple moving average is $105.19 and its two-hundred day simple moving average is $116.83.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Research analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analysts Set New Price Targets

MHK has been the subject of a number of research analyst reports. Loop Capital reduced their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Evercore ISI reduced their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Barclays reduced their price target on shares of 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. Wells Fargo & Company reduced their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Seven investment 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. According to MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

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.