Marshall Wace LLP Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

Marshall Wace LLP acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,689 shares of the company’s stock, valued at approximately $1,475,000.

A number of other hedge funds have also recently bought and sold shares of MHK. Lavaca Capital LLC bought a new position in shares of Mohawk Industries in the first quarter worth about $25,000. Penserra Capital Management LLC purchased a new stake in shares of Mohawk Industries during the first quarter valued at about $25,000. Lindbrook Capital LLC purchased a new position in shares of Mohawk Industries in the 4th quarter valued at approximately $34,000. CSat Investment Advisory L.P. raised its position in shares of Mohawk Industries by 222.0% in the 4th quarter. CSat Investment Advisory L.P. now owns 293 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of Mohawk Industries in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 80.68% of the company’s stock.

In related news, insider Bernard Thiers sold 2,800 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $149.85, for a total transaction of $419,580.00. Following the transaction, the insider now directly owns 43,559 shares in the company, valued at $6,527,316.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffrey S. Lorberbaum sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $145.00, for a total value of $870,000.00. Following the completion of the transaction, the chairman now owns 47,603 shares in the company, valued at $6,902,435. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock worth $4,481,028 over the last 90 days. Company insiders own 18.00% of the company’s stock.

Shares of Mohawk Industries stock traded up $3.56 during trading hours on Thursday, hitting $154.51. 1,045,600 shares of the company were exchanged, compared to its average volume of 811,880. The firm has a 50-day simple moving average of $147.30. Mohawk Industries, Inc. has a 1 year low of $109.35 and a 1 year high of $225.06. The firm has a market capitalization of $10.87 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 0.20.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, April 25th. The company reported $2.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.06. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.50 billion. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. Mohawk Industries’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.01 earnings per share. On average, research analysts predict that Mohawk Industries, Inc. will post 10.7 EPS for the current year.

MHK has been the topic of several research reports. Stifel Nicolaus upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from $135.00 to $180.00 in a report on Wednesday, May 15th. Jefferies Financial Group dropped their price objective on shares of CommVault Systems to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. They noted that the move was a valuation call. National Securities initiated coverage on shares of Mohawk Industries in a research note on Thursday, July 11th. They issued a “buy” rating on the stock. Longbow Research initiated coverage on shares of H&E Equipment Services in a research note on Friday, March 29th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, Loop Capital lifted their price target on shares of Walt Disney to $165.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $150.41.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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