Triad Investment Management Buys 866 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Triad Investment Management lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,836 shares of the company’s stock after acquiring an additional 866 shares during the quarter. Mohawk Industries makes up approximately 2.0% of Triad Investment Management’s portfolio, making the stock its 22nd biggest position. Triad Investment Management’s holdings in Mohawk Industries were worth $1,680,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MHK. Quarry LP raised its position in shares of Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after acquiring an additional 174 shares in the last quarter. Allworth Financial LP lifted its position in shares of Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after acquiring an additional 244 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of Mohawk Industries by 32,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after purchasing an additional 650 shares during the period. Finally, Mather Group LLC. bought a new position in Mohawk Industries in the first quarter valued at $110,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Trading Down 5.6 %

Shares of MHK traded down $6.29 during mid-day trading on Tuesday, hitting $106.48. The company had a trading volume of 593,581 shares, compared to its average volume of 672,290. The stock has a market cap of $6.80 billion, a PE ratio of -16.12, a P/E/G ratio of 1.12 and a beta of 1.40. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $131.19. The business’s 50-day simple moving average is $115.69 and its 200-day simple moving average is $112.97.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year. Sell-side analysts forecast that Mohawk Industries, Inc. will post 9.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MHK. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target on the stock in a research note on Monday, June 10th. JPMorgan Chase & Co. lifted their target price on shares of Mohawk Industries from $122.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays reduced their price target on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Finally, Royal Bank of Canada boosted their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.20.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 1,800 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $111.74, for a total value of $201,132.00. Following the transaction, the insider now owns 122,369 shares in the company, valued at approximately $13,673,512.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is owned by company insiders.

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.