3,669 Shares in Mohawk Industries, Inc. $MHK Bought by Choreo LLC

Choreo LLC bought a new position in Mohawk Industries, Inc. (NYSE:MHK) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 3,669 shares of the company’s stock, valued at approximately $458,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Mohawk Industries in the 2nd quarter valued at about $25,000. Basecamp Wealth Advisors LLC boosted its stake in shares of Mohawk Industries by 2,281.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in Mohawk Industries by 122.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock valued at $27,000 after purchasing an additional 121 shares during the period. Pension & Wealth Management Advisors Inc. purchased a new stake in Mohawk Industries during the third quarter valued at about $36,000. Finally, Reyes Financial Architecture Inc. bought a new position in Mohawk Industries during the third quarter valued at approximately $37,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

Shares of MHK opened at $150.25 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $127.34 and a 200 day moving average of $117.28. Mohawk Industries, Inc. has a 12 month low of $92.99 and a 12 month high of $155.88. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.13 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 29th. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the company earned $2.67 EPS. Mohawk Industries’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

MHK has been the topic of a number of recent research reports. Bank of America reaffirmed a “neutral” rating on shares of Mohawk Industries in a research report on Monday. Evercore raised Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $171.00 price objective for the company in a research report on Monday. Melius Research initiated coverage on shares of Mohawk Industries in a research note on Tuesday, October 6th. They issued a “buy” rating and a $188.00 price target for the company. Wells Fargo & Company boosted their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Finally, Barclays raised their target price on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of “Hold” and a consensus price target of $138.92.

Insiders Place Their Bets

In other news, Director Bernard Thiers sold 15,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $144.05, for a total transaction of $2,160,750.00. Following the sale, the director owned 78,633 shares in the company, valued at approximately $11,327,083.65. This trade represents a 16.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 1,646 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $146.60, for a total transaction of $241,303.60. Following the completion of the transaction, the insider owned 140,000 shares of the company’s stock, valued at approximately $20,524,000. The trade was a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 122,946 shares of company stock valued at $16,236,934 in the last 90 days. 17.90% of the stock is currently owned by insiders.

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.