Mohawk Industries, Inc. (NYSE:MHK) Sees Significant Decrease in Short Interest

Mohawk Industries, Inc. (NYSE:MHK) was the target of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 1,180,000 shares, a decline of 28.5% from the January 31st total of 1,650,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average trading volume of 728,000 shares, the short-interest ratio is presently 1.6 days.

Mohawk Industries Stock Up 3.7 %

Shares of MHK stock traded up $4.13 during trading hours on Wednesday, reaching $117.11. 657,387 shares of the stock were exchanged, compared to its average volume of 690,241. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29. The firm has a market capitalization of $7.33 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.44 and a beta of 1.41. The business’s fifty day moving average is $121.09 and its two-hundred day moving average is $136.82.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on MHK. Barclays dropped their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Evercore ISI cut their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Truist Financial reduced their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Six 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 company’s stock. Based on data from MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and an average price target of $146.92.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the sale, the insider now directly owns 104,084 shares in the company, valued at approximately $13,126,033.24. This trade represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 17,078 shares of company stock worth $2,203,387 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at $36,000. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries in the third quarter valued at $55,000. Resona Asset Management Co. Ltd. acquired a new position in Mohawk Industries in the fourth quarter valued at $41,000. True Wealth Design LLC purchased a new position in shares of Mohawk Industries during the third quarter worth about $61,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Mohawk Industries during the third quarter worth about $73,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

About Mohawk Industries

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.