Y Intercept Hong Kong Ltd Invests $997,000 in Mohawk Industries, Inc. (NYSE:MHK)

Y Intercept Hong Kong Ltd purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,369 shares of the company’s stock, valued at approximately $997,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in shares of Mohawk Industries by 20.6% during the third quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after buying an additional 107 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after acquiring an additional 115 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Mohawk Industries by 2.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after purchasing an additional 121 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Mohawk Industries by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after purchasing an additional 130 shares in the last quarter. Finally, US Bancorp DE lifted 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 worth $630,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the sale, the insider now owns 104,084 shares in the company, valued at $13,126,033.24. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 19,078 shares of company stock valued at $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Raymond James reiterated a “strong-buy” rating and set a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a research note 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 target on the stock in a research report on Wednesday, January 8th. Robert W. Baird lowered their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Finally, Evercore ISI cut their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Stock Performance

MHK opened at $116.49 on Friday. Mohawk Industries, Inc. has a 12-month low of $104.88 and a 12-month high of $164.29. The firm has a market capitalization of $7.29 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41. The stock’s 50 day moving average price is $121.33 and its two-hundred day moving average price is $137.71. 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 (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, equities analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

About Mohawk Industries

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.