Trexquant Investment LP Invests $983,000 in Mohawk Industries, Inc. (MHK) Stock

Trexquant Investment LP purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the 3rd quarter, Holdings Channel reports. The fund purchased 5,606 shares of the company’s stock, valued at approximately $983,000.

A number of other hedge funds also recently made changes to their positions in MHK. Cornerstone Advisors Inc. boosted its stake in Mohawk Industries by 45.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,289 shares of the company’s stock valued at $276,000 after buying an additional 403 shares in the last quarter. BB&T Corp acquired a new stake in Mohawk Industries in the 2nd quarter valued at $600,000. Piedmont Investment Advisors LLC acquired a new stake in Mohawk Industries in the 2nd quarter valued at $159,000. TD Asset Management Inc. boosted its stake in Mohawk Industries by 221.3% in the 2nd quarter. TD Asset Management Inc. now owns 261,774 shares of the company’s stock valued at $56,090,000 after buying an additional 180,301 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Mohawk Industries by 3.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 208,993 shares of the company’s stock valued at $44,781,000 after buying an additional 6,652 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating on the stock in a research note on Monday, October 29th. Royal Bank of Canada lowered Mohawk Industries from an “outperform” rating to a “sector perform” rating and set a $190.00 price objective on the stock. in a research note on Monday, October 15th. Loop Capital reduced their price objective on Mohawk Industries to $165.00 and set a “hold” rating on the stock in a research note on Tuesday, October 16th. They noted that the move was a valuation call. Robert W. Baird set a $192.00 price objective on Mohawk Industries and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Finally, Stifel Nicolaus lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $171.63.

In other news, insider Suzanne L. Helen sold 10,642 shares of the business’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $128.83, for a total transaction of $1,371,008.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Filip Balcaen bought 250,000 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were purchased at an average price of $118.42 per share, with a total value of $29,605,000.00. Following the transaction, the director now owns 776 shares of the company’s stock, valued at $91,893.92. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 29,042 shares of company stock valued at $4,823,325. 16.80% of the stock is currently owned by corporate insiders.

MHK stock opened at $128.06 on Friday. The firm has a market cap of $9.45 billion, a PE ratio of 9.41, a PEG ratio of 1.55 and a beta of 1.62. Mohawk Industries, Inc. has a twelve month low of $113.45 and a twelve month high of $286.85. The company has a quick ratio of 0.79, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 25th. The company reported $3.29 earnings per share for the quarter, missing analysts’ consensus estimates of $3.58 by ($0.29). The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. Mohawk Industries had a return on equity of 13.49% and a net margin of 8.81%. On average, equities research analysts predict that Mohawk Industries, Inc. will post 12.32 earnings per share for the current fiscal year.

Mohawk Industries announced that its board has authorized a share repurchase program on Thursday, October 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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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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Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries, Inc. (NYSE:MHK).

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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