Traders Buy Shares of Mohawk Industries (MHK) on Weakness

Investors bought shares of Mohawk Industries, Inc. (NYSE:MHK) on weakness during trading on Thursday. $72.23 million flowed into the stock on the tick-up and $46.32 million flowed out of the stock on the tick-down, for a money net flow of $25.91 million into the stock. Of all equities tracked, Mohawk Industries had the 15th highest net in-flow for the day. Mohawk Industries traded down ($0.37) for the day and closed at $271.72

Several equities research analysts have commented on MHK shares. Barclays upped their price objective on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Zacks Investment Research lowered Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Northcoast Research started coverage on Mohawk Industries in a research note on Thursday, October 5th. They set a “buy” rating and a $295.00 target price for the company. Finally, Nomura set a $300.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research note on Friday, October 27th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $292.83.

The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. The company has a market cap of $20,160.00, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.74 by $0.01. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 EPS. research analysts anticipate that Mohawk Industries, Inc. will post 13.52 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in Mohawk Industries by 399.2% in the 2nd quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock valued at $8,312,000 after purchasing an additional 27,503 shares during the last quarter. Quantbot Technologies LP acquired a new position in Mohawk Industries in the 3rd quarter valued at $5,281,000. IBM Retirement Fund raised its stake in Mohawk Industries by 72.4% in the 3rd quarter. IBM Retirement Fund now owns 1,593 shares of the company’s stock valued at $436,000 after purchasing an additional 669 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Mohawk Industries by 10.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 105,131 shares of the company’s stock valued at $26,021,000 after purchasing an additional 9,896 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Mohawk Industries by 6.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 126,396 shares of the company’s stock valued at $31,284,000 after purchasing an additional 7,688 shares during the last quarter. 76.52% of the stock is owned by institutional investors and hedge funds.

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Mohawk Industries Company Profile

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

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