Sherbrooke Park Advisers LLC Buys 1,739 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Sherbrooke Park Advisers LLC raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 103.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,414 shares of the company’s stock after purchasing an additional 1,739 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Mohawk Industries were worth $407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. bought a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $41,000. R Squared Ltd bought a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $66,000. Huntington National Bank lifted its holdings in shares of Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after acquiring an additional 119 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $85,000 after acquiring an additional 501 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $88,000. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Up 0.4%

Shares of Mohawk Industries stock opened at $108.15 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $108.11 and its two-hundred day simple moving average is $120.05. The company has a market cap of $6.76 billion, a P/E ratio of 13.30, a PEG ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. Research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MHK shares. Barclays lowered their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Loop Capital lowered their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price objective for the company. Royal Bank of Canada lowered their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.40% 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.