Mohawk Industries, Inc. $MHK Shares Purchased by Lodge Hill Capital LLC

Lodge Hill Capital LLC raised its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7.1% during the 1st quarter, HoldingsChannel reports. The fund owned 302,480 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Mohawk Industries accounts for approximately 4.4% of Lodge Hill Capital LLC’s portfolio, making the stock its 7th biggest holding. Lodge Hill Capital LLC’s holdings in Mohawk Industries were worth $29,782,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Mohawk Industries in the fourth quarter worth approximately $77,528,000. AQR Capital Management LLC boosted its holdings in shares of Mohawk Industries by 73.9% during the third quarter. AQR Capital Management LLC now owns 1,578,335 shares of the company’s stock worth $200,922,000 after purchasing an additional 670,601 shares during the period. Steadfast Capital Management LP grew its position in Mohawk Industries by 96.3% during the third quarter. Steadfast Capital Management LP now owns 937,301 shares of the company’s stock valued at $120,837,000 after purchasing an additional 459,700 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Mohawk Industries during the third quarter valued at approximately $36,076,000. Finally, Gendell Jeffrey L increased its stake in Mohawk Industries by 136.3% in the 4th quarter. Gendell Jeffrey L now owns 445,669 shares of the company’s stock valued at $48,712,000 after buying an additional 257,100 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Shares of MHK opened at $113.22 on Thursday. The firm has a market cap of $6.90 billion, a PE ratio of 16.97, a PEG ratio of 2.90 and a beta of 1.18. The firm’s 50 day moving average price is $110.51 and its 200 day moving average price is $111.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.23 and a current ratio of 2.16. Mohawk Industries, Inc. has a twelve month low of $92.99 and a twelve month high of $143.13.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. Mohawk Industries had a net margin of 3.77% and a return on equity of 6.96%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts expect that Mohawk Industries, Inc. will post 8.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Mohawk Industries from $125.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft set a $109.00 price target on shares of Mohawk Industries in a report on Tuesday, May 5th. Barclays upped their price target on shares of Mohawk Industries from $96.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Zacks Research upgraded Mohawk Industries from a “strong sell” rating to a “hold” rating in a report on Friday, June 19th. Finally, Wall Street Zen raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $124.42.

Insiders Place Their Bets

In related news, CEO Jeffrey S. Lorberbaum sold 5,000 shares of Mohawk Industries stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $105.53, for a total value of $527,650.00. Following the completion of the sale, the chief executive officer owned 25,000 shares of the company’s stock, valued at approximately $2,638,250. The trade was a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suzanne L. Helen sold 16,600 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $112.97, for a total transaction of $1,875,302.00. Following the completion of the sale, the insider owned 14,132 shares of the company’s stock, valued at $1,596,492.04. This represents a 54.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,186 shares of company stock worth $4,460,321 in the last 90 days. 17.90% of the stock is owned by insiders.

Mohawk Industries Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.