Mohawk Industries, Inc. (MHK) Holdings Reduced by Rational Advisors LLC

Rational Advisors LLC decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 38.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,907 shares of the company’s stock after selling 1,782 shares during the period. Rational Advisors LLC’s holdings in Mohawk Industries were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MHK. Ruffer LLP grew its holdings in shares of Mohawk Industries by 136.7% during the 4th quarter. Ruffer LLP now owns 21,300 shares of the company’s stock worth $2,490,000 after acquiring an additional 12,300 shares during the period. FOURPOINTS Investment Managers S.A.S. purchased a new position in shares of Mohawk Industries during the 4th quarter worth approximately $2,164,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Mohawk Industries by 137.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,593 shares of the company’s stock worth $1,941,000 after acquiring an additional 9,615 shares during the period. Triad Investment Management purchased a new position in shares of Mohawk Industries during the 4th quarter worth approximately $1,938,000. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in shares of Mohawk Industries by 13.3% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,498 shares of the company’s stock worth $643,000 after acquiring an additional 645 shares during the period. 78.60% of the stock is owned by institutional investors and hedge funds.

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A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Mohawk Industries from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. SunTrust Banks upped their price target on Mohawk Industries to $150.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. They noted that the move was a valuation call. Buckingham Research initiated coverage on Mohawk Industries in a research note on Friday, February 1st. They issued an “underperform” rating and a $116.00 price target on the stock. Royal Bank of Canada set a $129.00 price target on Mohawk Industries and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Loop Capital upped their price target on Mohawk Industries to $126.00 and gave the stock an “underperform” rating in a research note on Friday, February 8th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $168.94.

MHK stock traded up $0.83 during midday trading on Wednesday, hitting $140.54. The company’s stock had a trading volume of 9,869 shares, compared to its average volume of 1,322,120. The stock has a market capitalization of $10.33 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.16 and a beta of 1.49. Mohawk Industries, Inc. has a 12 month low of $109.35 and a 12 month high of $253.55. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 7th. The company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.04. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Mohawk Industries had a return on equity of 12.40% and a net margin of 8.63%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.42 EPS. On average, research analysts predict that Mohawk Industries, Inc. will post 11.24 earnings per share for the current year.

Mohawk Industries declared that its board has authorized a stock repurchase plan on Thursday, October 25th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, VP Rodney David Patton sold 763 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $125.27, for a total value of $95,581.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Suzanne L. Helen sold 10,642 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $128.83, for a total value of $1,371,008.86. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 216,046 shares of company stock worth $26,149,264 and sold 25,652 shares worth $3,467,296. Corporate insiders own 16.80% of the company’s stock.

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About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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