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

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) was the recipient of a significant decline in short interest in 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. Based on an average daily trading volume, of 728,000 shares, the short-interest ratio is presently 1.6 days. Approximately 2.3% of the shares of the stock are short sold.

Mohawk Industries Trading Down 1.1 %

Shares of MHK traded down $1.26 on Monday, reaching $116.33. 866,059 shares of the company's stock were exchanged, compared to its average volume of 690,433. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.28 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41. The business has a 50 day moving average price of $121.29 and a two-hundred day moving average price of $137.26. Mohawk Industries has a 12 month low of $104.88 and a 12 month high of $164.29.

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, 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%. Research analysts anticipate that Mohawk Industries will post 9.8 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Raymond James restated a "strong-buy" rating and issued a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. JPMorgan Chase & Co. reduced their price target 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. StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Bank of America reduced their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Finally, The Goldman Sachs Group reduced their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Six investment 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. According to MarketBeat.com, Mohawk Industries presently has an average rating of "Moderate Buy" and an average target price of $146.92.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the transaction, the insider now directly owns 104,084 shares in the company, valued at $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 over the last ninety days. Corporate insiders own 17.10% of the company's stock.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Mohawk Industries by 7.5% in the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company's stock valued at $266,000 after purchasing an additional 115 shares in the last quarter. Huntington National Bank increased its position in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after acquiring an additional 119 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Mohawk Industries by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock worth $3,054,000 after acquiring an additional 120 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Mohawk Industries by 2.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company's stock worth $680,000 after acquiring an additional 121 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Mohawk Industries by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company's stock worth $819,000 after acquiring an additional 130 shares in the last quarter. Institutional investors 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.