Mohawk Industries, Inc. (NYSE:MHK) Short Interest Down 28.5% in February

Mohawk Industries, Inc. (NYSE:MHK) was the recipient of a large decline in short interest during the month of 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 trading volume of 728,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.3% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the completion of the sale, the insider now owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last ninety days. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Creative Planning lifted its position in Mohawk Industries by 6.9% in the 3rd quarter. Creative Planning now owns 3,114 shares of the company’s stock valued at $500,000 after acquiring an additional 200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Mohawk Industries by 52.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,517 shares of the company’s stock valued at $717,000 after purchasing an additional 1,559 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Mohawk Industries by 155.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,744 shares of the company’s stock valued at $1,084,000 after buying an additional 4,108 shares during the last quarter. US Bancorp DE boosted its position in shares of Mohawk Industries by 3.9% during the third quarter. US Bancorp DE now owns 3,920 shares of the company’s stock valued at $630,000 after buying an additional 146 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Mohawk Industries by 6.4% during the third quarter. Harbor Capital Advisors Inc. now owns 65,181 shares of the company’s stock worth $10,473,000 after buying an additional 3,918 shares in the last quarter. 78.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MHK has been the subject of a number of recent analyst reports. Evercore ISI decreased their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Wednesday, January 8th. Robert W. Baird lowered their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Loop Capital cut their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Raymond James reissued a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Six equities research 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Stock Up 0.9 %

MHK stock traded up $1.09 during trading on Monday, reaching $118.68. 268,580 shares of the stock were exchanged, compared to its average volume of 688,139. The firm’s 50 day moving average is $121.29 and its 200 day moving average is $137.26. The firm has a market cap of $7.43 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries has a twelve month low of $104.88 and a twelve month high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, research analysts forecast that Mohawk Industries will post 9.8 EPS for the current year.

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.