Magnetar Financial LLC Raises Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Magnetar Financial LLC grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 353.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,108 shares of the company's stock after buying an additional 30,477 shares during the period. Magnetar Financial LLC owned 0.06% of Mohawk Industries worth $4,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MHK. Choreo LLC purchased a new stake in Mohawk Industries in the 4th quarter worth $258,000. Townsend & Associates Inc lifted its position in shares of Mohawk Industries by 1.2% in the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company's stock worth $34,382,000 after buying an additional 3,078 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Mohawk Industries during the fourth quarter valued at approximately $997,000. JPMorgan Chase & Co. grew its holdings in Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock valued at $485,983,000 after buying an additional 74,123 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Mohawk Industries by 7.7% in the 4th quarter. New York State Teachers Retirement System now owns 50,028 shares of the company's stock worth $5,960,000 after acquiring an additional 3,560 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Trading Up 4.1 %

MHK stock traded up $4.63 during trading on Monday, hitting $116.50. The company had a trading volume of 815,123 shares, compared to its average volume of 700,842. Mohawk Industries, Inc. has a 52-week low of $104.88 and a 52-week high of $164.29. The company has a 50 day simple moving average of $120.00 and a 200-day simple moving average of $133.10. The firm has a market capitalization of $7.29 billion, a P/E ratio of 14.33, a PEG ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

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Mohawk Industries (NYSE:MHK - Get Free Report) last issued 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, research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm'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 transaction, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 17.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MHK shares. StockNews.com cut shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Friday. Loop Capital reduced their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Barclays lowered 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 report on Monday, February 10th. Robert W. Baird lowered their price objective on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company lowered their price target on Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $146.92.

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.