Blueshift Asset Management LLC Takes Position in Mohawk Industries, Inc. (NYSE:MHK)

Blueshift Asset Management LLC acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,860 shares of the company’s stock, valued at approximately $341,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC bought a new position in shares of Mohawk Industries in the 3rd quarter worth about $36,000. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries in the third quarter worth about $55,000. True Wealth Design LLC bought a new position in shares of Mohawk Industries during the third quarter valued at approximately $61,000. Versant Capital Management Inc raised its position in shares of Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares during the period. Finally, R Squared Ltd acquired a new position in Mohawk Industries during the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MHK shares. Wells Fargo & Company dropped their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Bank of America reduced their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group dropped their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Barclays reduced their price objective on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Finally, Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. The trade was 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 available at this link. Insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

NYSE:MHK opened at $111.75 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $120.12 and its 200 day moving average price is $133.57. Mohawk Industries, Inc. has a 52-week low of $104.88 and a 52-week high of $164.29. The firm has a market cap of $6.99 billion, a P/E ratio of 13.75, a PEG ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping 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, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal 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.