Interval Partners LP Invests $501,000 in Mohawk Industries, Inc. (NYSE:MHK)

Interval Partners LP purchased a new position in Mohawk Industries, Inc. (NYSE:MHK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MHK. Pinebridge Investments L.P. grew its holdings in shares of Mohawk Industries by 29.6% in the fourth quarter. Pinebridge Investments L.P. now owns 2,922 shares of the company’s stock worth $299,000 after purchasing an additional 668 shares during the last quarter. FORA Capital LLC grew its stake in shares of Mohawk Industries by 10.9% during the 1st quarter. FORA Capital LLC now owns 6,185 shares of the company’s stock valued at $620,000 after purchasing an additional 610 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Mohawk Industries by 2.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,731 shares of the company’s stock valued at $374,000 after purchasing an additional 103 shares during the period. Kinney Asset Management LLC grew its stake in shares of Mohawk Industries by 2.4% during the 1st quarter. Kinney Asset Management LLC now owns 227,198 shares of the company’s stock valued at $22,770,000 after acquiring an additional 5,400 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Mohawk Industries by 16.5% during the 1st quarter. Citigroup Inc. now owns 62,195 shares of the company’s stock valued at $6,233,000 after acquiring an additional 8,810 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com assumed coverage on Mohawk Industries in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Loop Capital upped their price objective on Mohawk Industries from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Barclays decreased their price objective on Mohawk Industries from $105.00 to $98.00 and set an “underweight” rating on the stock in a report on Tuesday, August 1st. Finally, Jefferies Financial Group upped their price objective on Mohawk Industries from $115.00 to $118.00 and gave the stock a “hold” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Mohawk Industries presently has a consensus rating of “Hold” and an average target price of $114.71.

Insider Transactions at Mohawk Industries

In related news, CEO Jeffrey S. Lorberbaum sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $101.22, for a total transaction of $1,012,200.00. Following the sale, the chief executive officer now owns 39,200 shares of the company’s stock, valued at $3,967,824. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 10,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $101.22, for a total value of $1,012,200.00. Following the completion of the sale, the chief executive officer now directly owns 39,200 shares in the company, valued at $3,967,824. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Rodney David Patton sold 2,600 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $106.76, for a total value of $277,576.00. Following the completion of the sale, the vice president now owns 14,487 shares of the company’s stock, valued at $1,546,632.12. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.

Mohawk Industries Stock Performance

NYSE:MHK opened at $94.09 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.78. The stock’s fifty day moving average is $104.15 and its 200 day moving average is $100.33. Mohawk Industries, Inc. has a fifty-two week low of $87.01 and a fifty-two week high of $130.63. The firm has a market capitalization of $5.99 billion, a PE ratio of -18.67 and a beta of 1.33.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 27th. The company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.11. Mohawk Industries had a positive return on equity of 7.27% and a negative net margin of 2.82%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $4.41 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.38 earnings per share 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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).