Renaissance Technologies LLC Sells 40,200 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Renaissance Technologies LLC trimmed its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 139,700 shares of the company's stock after selling 40,200 shares during the quarter. Renaissance Technologies LLC owned about 0.22% of Mohawk Industries worth $16,642,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of Nova Scotia bought a new stake in Mohawk Industries during the fourth quarter worth about $399,000. Legal & General Group Plc lifted its holdings in shares of Mohawk Industries by 0.6% during the 4th quarter. Legal & General Group Plc now owns 111,135 shares of the company's stock worth $13,240,000 after acquiring an additional 696 shares during the period. Invesco Ltd. lifted its holdings in shares of Mohawk Industries by 16.3% during the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock worth $205,545,000 after acquiring an additional 241,448 shares during the period. Russell Investments Group Ltd. increased its stake in Mohawk Industries by 1.5% in the fourth quarter. Russell Investments Group Ltd. now owns 83,807 shares of the company's stock valued at $9,984,000 after acquiring an additional 1,224 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Mohawk Industries by 7.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 73,000 shares of the company's stock valued at $8,697,000 after purchasing an additional 5,142 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MHK shares. Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Bank of America dropped their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a report on Monday, February 10th. StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company cut their target price on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.57.

Mohawk Industries Trading Up 1.8 %

Shares of MHK traded up $1.83 during trading hours on Friday, hitting $102.75. 417,383 shares of the stock were exchanged, compared to its average volume of 737,583. The firm has a market capitalization of $6.42 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. 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, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The business has a 50-day moving average of $112.71 and a 200-day moving average of $126.26.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data 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, research analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current 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.