Geode Capital Management LLC Grows Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Geode Capital Management LLC raised its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,298,260 shares of the company's stock after acquiring an additional 22,736 shares during the period. Geode Capital Management LLC owned approximately 2.06% of Mohawk Industries worth $154,488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Magnetar Financial LLC boosted its stake in Mohawk Industries by 353.1% during the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company's stock worth $4,659,000 after buying an additional 30,477 shares during the last quarter. Choreo LLC acquired a new position in shares of Mohawk Industries during the 4th quarter valued at about $258,000. Sei Investments Co. grew its holdings in shares of Mohawk Industries by 46.3% in the fourth quarter. Sei Investments Co. now owns 91,586 shares of the company's stock valued at $10,911,000 after purchasing an additional 28,998 shares during the period. Townsend & Associates Inc increased its position in Mohawk Industries by 1.2% during the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company's stock worth $34,382,000 after purchasing an additional 3,078 shares during the last quarter. Finally, Sciencast Management LP raised its stake in Mohawk Industries by 59.1% during the fourth quarter. Sciencast Management LP now owns 6,088 shares of the company's stock worth $725,000 after purchasing an additional 2,262 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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Mohawk Industries Price Performance

Shares of MHK stock traded up $2.04 during mid-day trading on Friday, reaching $105.06. The stock had a trading volume of 667,630 shares, compared to its average volume of 738,958. The company has a market cap of $6.57 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The business has a 50-day simple moving average of $114.44 and a 200 day simple moving average of $128.44.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MHK. Barclays cut their price target on shares of Mohawk Industries from $125.00 to $115.00 and set an "equal weight" rating for the company in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Bank of America reduced their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Evercore ISI lowered their target price on shares of 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. Finally, Loop Capital reduced their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.36.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the company'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 transaction of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.10% of the company's stock.

Mohawk Industries Company 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.