Graham Capital Management L.P. Sells 10,220 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Graham Capital Management L.P. cut its stake in Mohawk Industries, Inc. (NYSE:MHK) by 69.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,500 shares of the company’s stock after selling 10,220 shares during the period. Graham Capital Management L.P.’s holdings in Mohawk Industries were worth $536,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MHK. Magnetar Financial LLC grew its holdings in shares of Mohawk Industries by 353.1% in the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock worth $4,659,000 after purchasing an additional 30,477 shares during the last quarter. Sei Investments Co. raised its position in shares of Mohawk Industries by 46.3% in the 4th quarter. Sei Investments Co. now owns 91,586 shares of the company’s stock worth $10,911,000 after acquiring an additional 28,998 shares in the last quarter. Choreo LLC purchased a new stake in shares of Mohawk Industries during the fourth quarter valued at about $258,000. Townsend & Associates Inc lifted its position in Mohawk Industries by 1.2% during the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock valued at $34,382,000 after acquiring an additional 3,078 shares during the last quarter. Finally, Sciencast Management LP lifted its holdings in shares of Mohawk Industries by 59.1% during the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company’s stock valued at $725,000 after purchasing an additional 2,262 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

MHK stock opened at $107.73 on Friday. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The business has a fifty day moving average of $108.20 and a two-hundred day moving average of $120.33.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm earned $1.86 EPS. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MHK shares. Barclays lowered their target price on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Truist Financial cut their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. 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 report on Monday, February 10th. JPMorgan Chase & Co. cut their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Finally, Evercore ISI reduced their price objective on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Mohawk Industries currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Insider Transactions at Mohawk Industries

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

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.