Schonfeld Strategic Advisors LLC Raises Stake in Mohawk Industries, Inc. (NYSE:MHK)

Schonfeld Strategic Advisors LLC increased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 59.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 171,068 shares of the company’s stock after buying an additional 63,967 shares during the quarter. Schonfeld Strategic Advisors LLC owned 0.27% of Mohawk Industries worth $20,379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Paloma Partners Management Co bought a new position in Mohawk Industries during the fourth quarter worth about $27,519,000. Atlas FRM LLC boosted its position in Mohawk Industries by 11.0% during the fourth quarter. Atlas FRM LLC now owns 405,000 shares of the company’s stock worth $48,248,000 after purchasing an additional 40,000 shares during the period. Northern Trust Corp boosted its position in Mohawk Industries by 5.4% during the fourth quarter. Northern Trust Corp now owns 507,474 shares of the company’s stock worth $60,455,000 after purchasing an additional 26,075 shares during the period. Tudor Investment Corp ET AL boosted its position in Mohawk Industries by 1,472.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 43,941 shares of the company’s stock worth $5,235,000 after purchasing an additional 41,146 shares during the period. Finally, Boothbay Fund Management LLC boosted its position in Mohawk Industries by 1.4% during the fourth quarter. Boothbay Fund Management LLC now owns 72,474 shares of the company’s stock worth $8,634,000 after purchasing an additional 1,002 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Up 0.3 %

Shares of NYSE MHK opened at $107.06 on Wednesday. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The firm’s 50 day simple moving average is $110.81 and its two-hundred day simple moving average is $124.01. The stock has a market capitalization of $6.69 billion, a P/E ratio of 13.17, a PEG ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

MHK has been the topic of a number of recent analyst reports. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Barclays lowered their price target on shares of Mohawk Industries from $125.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Raymond James reissued a “strong-buy” rating and issued a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and an average price target of $142.57.

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.