Mohawk Industries, Inc. (NYSE:MHK) Short Interest Up 19.2% in January

Mohawk Industries, Inc. (NYSE:MHK) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 2,879,652 shares, a growth of 19.2% from the December 31st total of 2,415,610 shares. Approximately 5.6% of the company’s stock are short sold. Based on an average daily volume of 907,643 shares, the short-interest ratio is currently 3.2 days. Based on an average daily volume of 907,643 shares, the short-interest ratio is currently 3.2 days. Approximately 5.6% of the company’s stock are short sold.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 2,700 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $109.00, for a total value of $294,300.00. Following the completion of the sale, the insider directly owned 67,893 shares of the company’s stock, valued at $7,400,337. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 16,235 shares of company stock worth $1,792,813. Insiders own 17.40% of the company’s stock.

Institutional Trading of Mohawk Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Mohawk Industries by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,085,012 shares of the company’s stock valued at $397,714,000 after purchasing an additional 37,487 shares during the period. Invesco Ltd. raised its position in shares of Mohawk Industries by 7.4% in the second quarter. Invesco Ltd. now owns 1,957,197 shares of the company’s stock worth $205,192,000 after buying an additional 135,246 shares in the last quarter. State Street Corp boosted its stake in Mohawk Industries by 2.1% during the second quarter. State Street Corp now owns 1,915,831 shares of the company’s stock valued at $200,856,000 after buying an additional 39,556 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Mohawk Industries by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,829,830 shares of the company’s stock valued at $235,902,000 after buying an additional 9,516 shares during the period. Finally, AQR Capital Management LLC grew its position in Mohawk Industries by 73.9% during the third quarter. AQR Capital Management LLC now owns 1,578,335 shares of the company’s stock worth $200,922,000 after buying an additional 670,601 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

MHK traded up $5.73 during trading on Wednesday, reaching $130.48. 1,088,721 shares of the company were exchanged, compared to its average volume of 762,444. The company has a quick ratio of 1.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.15 and a beta of 1.23. Mohawk Industries has a 12-month low of $96.24 and a 12-month high of $143.13. The company’s 50-day moving average is $114.67 and its two-hundred day moving average is $119.99.

Analysts Set New Price Targets

A number of research firms recently commented on MHK. Weiss Ratings reissued a “hold (c-)” rating on shares of Mohawk Industries in a research report on Wednesday, January 28th. Evercore ISI reduced their price objective on shares of Mohawk Industries from $124.00 to $118.00 and set an “in-line” rating for the company in a research report on Wednesday, November 19th. Raymond James Financial reiterated a “strong-buy” rating and issued a $150.00 price objective (up previously from $140.00) on shares of Mohawk Industries in a research note on Tuesday, October 21st. Vertical Research initiated coverage on Mohawk Industries in a research note on Monday, October 20th. They issued a “buy” rating on the stock. Finally, Wolfe Research downgraded Mohawk Industries from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.83.

About Mohawk Industries

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.