Mohawk Industries, Inc. (NYSE:MHK) Sees Significant Decrease in Short Interest

Mohawk Industries, Inc. (NYSE:MHK) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 1,180,000 shares, a decline of 28.5% from the January 31st total of 1,650,000 shares. Based on an average daily volume of 728,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.3% of the company’s stock are sold short.

Mohawk Industries Stock Performance

Shares of MHK stock traded up $4.13 during trading hours on Wednesday, hitting $117.11. The company’s stock had a trading volume of 657,387 shares, compared to its average volume of 690,241. The stock has a market cap of $7.33 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29. The company has a 50 day moving average of $121.09 and a 200 day moving average of $136.82. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, sell-side analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MHK shares. Barclays decreased their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Wells Fargo & Company lowered their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Robert W. Baird dropped their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have 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 an average price target of $146.92.

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $127.75, for a total transaction of $511,000.00. Following the completion of the sale, the insider now directly owns 108,084 shares of the company’s stock, valued at approximately $13,807,731. This represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 17,078 shares of company stock worth $2,203,387. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mohawk Industries

Several hedge funds have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at $36,000. Resona Asset Management Co. Ltd. purchased a new position in Mohawk Industries in the fourth quarter valued at $41,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Mohawk Industries in the third quarter worth about $55,000. True Wealth Design LLC purchased a new stake in shares of Mohawk Industries during the 3rd quarter worth about $61,000. Finally, Versant Capital Management Inc grew its position in shares of Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after acquiring an additional 223 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.