Friedenthal Financial Acquires New Stake in Mohawk Industries, Inc. (NYSE:MHK)

Friedenthal Financial bought a new position in Mohawk Industries, Inc. (NYSE:MHK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,880 shares of the company’s stock, valued at approximately $784,000.

A number of other institutional investors have also recently modified their holdings of the stock. Quest Partners LLC grew its position in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after purchasing an additional 84 shares during the last quarter. Headlands Technologies LLC bought a new position in Mohawk Industries in the 2nd quarter valued at approximately $50,000. Blue Trust Inc. boosted its stake in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares in the last quarter. Finally, AM Squared Ltd purchased a new position in shares of Mohawk Industries in the second quarter worth $68,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MHK. Robert W. Baird upped their target price on shares of Mohawk Industries from $132.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Jefferies Financial Group raised their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their price objective on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Insider Activity

In related news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the sale, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of the company’s 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 transaction, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries Price Performance

MHK stock opened at $161.05 on Friday. The company has a fifty day simple moving average of $154.14 and a two-hundred day simple moving average of $132.76. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $164.05. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $10.29 billion, a P/E ratio of -24.63, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

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

Mohawk Industries 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.