Headlands Technologies LLC Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

Headlands Technologies LLC bought a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 444 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MHK. Quest Partners LLC raised its holdings in Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares in the last quarter. Quarry LP grew its stake in Mohawk Industries by 70.4% in the fourth quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares in the last quarter. Quent Capital LLC increased its holdings in Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after buying an additional 106 shares during the last quarter. TFO Wealth Partners LLC raised its stake in Mohawk Industries by 32,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after buying an additional 650 shares in the last quarter. Finally, AM Squared Ltd bought a new position in Mohawk Industries during the 2nd quarter worth approximately $68,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Price Performance

Shares of MHK opened at $155.83 on Tuesday. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of -23.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37. The stock’s fifty day moving average is $143.98 and its 200-day moving average is $126.75. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $164.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92.

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

Insider Buying and Selling at Mohawk Industries

In other news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the sale, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MHK. Wells Fargo & Company upped their price target on Mohawk Industries from $110.00 to $140.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their price target for the company from $120.00 to $177.00 in a report on Friday, July 26th. Royal Bank of Canada raised their target price on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Loop Capital upped their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Barclays raised their price target on Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.