Assenagon Asset Management S.A. Purchases 113,588 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Assenagon Asset Management S.A. raised its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 482.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,122 shares of the company's stock after acquiring an additional 113,588 shares during the quarter. 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 (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC raised its stake in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company's stock worth $33,000 after acquiring an additional 84 shares during the period. Headlands Technologies LLC bought a new stake in shares of Mohawk Industries during the 2nd quarter valued at $50,000. Blue Trust Inc. lifted its stake in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company's stock valued at $58,000 after buying an additional 167 shares in the last quarter. Quent Capital LLC boosted its holdings in Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company's stock worth $65,000 after buying an additional 106 shares during the period. Finally, AM Squared Ltd purchased a new stake in Mohawk Industries in the 2nd quarter worth $68,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mohawk Industries

In related news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares of the company's stock, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 transaction of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares of the company's stock, valued at approximately $2,002,031.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 2,300 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the transaction, the insider now owns 119,369 shares of the company's stock, valued at approximately $18,042,624.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock worth $673,387 over the last quarter. Insiders own 17.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MHK. Robert W. Baird upgraded Mohawk Industries from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $160.00 to $196.00 in a research report on Monday, October 21st. Baird R W upgraded Mohawk Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 21st. Jefferies Financial Group increased their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their target price on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Monday, July 29th. Finally, Barclays lifted their price target on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an "equal weight" rating in a report on Monday, July 29th. Five investment 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $166.25.

Mohawk Industries Trading Down 13.8 %

Shares of NYSE:MHK traded down $20.99 during trading on Friday, reaching $130.88. The company's stock had a trading volume of 3,197,985 shares, compared to its average volume of 709,862. The firm's 50 day simple moving average is $154.55 and its two-hundred day simple moving average is $133.72. The company has a current ratio of 1.92, a quick ratio of 1.04 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 stock has a market capitalization of $8.26 billion, a PE ratio of -23.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $0.01. The firm had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.71 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. On average, research analysts predict that Mohawk Industries, Inc. will post 9.98 EPS for the current fiscal year.

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.