Mohawk Industries, Inc. (NYSE:MHK) Stake Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 482.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,122 shares of the company’s stock after purchasing an additional 113,588 shares during the period. Assenagon Asset Management S.A. owned approximately 0.21% of Mohawk Industries worth $22,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Mohawk Industries in the first quarter worth approximately $1,450,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Mohawk Industries in the first quarter worth approximately $1,450,000. Sei Investments Co. raised its holdings in shares of Mohawk Industries by 2,040.6% during the first quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock valued at $8,209,000 after acquiring an additional 59,790 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Mohawk Industries by 20.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,447 shares of the company’s stock valued at $8,043,000 after acquiring an additional 10,274 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Mohawk Industries by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock worth $819,067,000 after purchasing an additional 17,541 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Buying and Selling

In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now owns 12,299 shares of the company’s stock, valued at $2,002,031.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the transaction, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,415 shares of company stock valued at $673,387. Insiders own 17.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MHK shares. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $196.00 in a report on Monday, October 21st. Royal Bank of Canada upped their price objective on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group upped their target price on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Loop Capital lifted their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

Mohawk Industries Trading Down 13.8 %

NYSE:MHK opened at $130.88 on Friday. The company’s 50 day moving average is $154.55 and its 200-day moving average is $133.66. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $164.29. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of -23.12, a P/E/G ratio of 1.11 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 24th. The company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.89 by $0.01. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.71 billion. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.98 EPS for the current year.

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.