Mohawk Industries, Inc. (NYSE:MHK) Short Interest Update

Mohawk Industries, Inc. (NYSE:MHK) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,270,000 shares, a decline of 19.1% from the August 15th total of 1,570,000 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average daily volume of 758,000 shares, the days-to-cover ratio is currently 1.7 days.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 700 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the sale, the insider now owns 121,669 shares of the company’s stock, valued at approximately $17,881,692.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its position in Mohawk Industries by 78.1% in the fourth quarter. Victory Capital Management Inc. now owns 16,980 shares of the company’s stock worth $1,757,000 after buying an additional 7,446 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Mohawk Industries by 74.1% in the 4th quarter. Teacher Retirement System of Texas now owns 7,284 shares of the company’s stock worth $754,000 after buying an additional 3,099 shares during the period. BNP Paribas Financial Markets raised its holdings in Mohawk Industries by 5.5% during the fourth quarter. BNP Paribas Financial Markets now owns 50,585 shares of the company’s stock valued at $5,236,000 after acquiring an additional 2,648 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Mohawk Industries during the fourth quarter worth about $333,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Mohawk Industries by 9.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,117 shares of the company’s stock worth $426,000 after purchasing an additional 364 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

Shares of MHK stock traded down $0.26 during trading hours on Tuesday, reaching $155.56. The company had a trading volume of 163,170 shares, compared to its average volume of 699,701. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The business has a fifty day moving average price of $144.86 and a 200-day moving average price of $127.01. Mohawk Industries has a one year low of $76.02 and a one year high of $164.05. The firm has a market cap of $9.93 billion, a PE ratio of -23.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the business posted $2.76 EPS. Sell-side analysts predict that Mohawk Industries will post 10 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MHK has been the topic of a number of research reports. Barclays lifted their target price on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Loop Capital upped their target price on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Raymond James upgraded Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective for the company in a report on Monday, June 10th. Finally, The Goldman Sachs Group raised their price objective on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

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.