Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. increased its position in Mohawk Industries, Inc. (NYSE:MHK) by 152.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,970 shares of the company’s stock after acquiring an additional 29,600 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Mohawk Industries worth $5,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank grew its holdings in shares of Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after acquiring an additional 119 shares during the period. Contravisory Investment Management Inc. grew its holdings 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 acquiring an additional 121 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings 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 worth $819,000 after acquiring an additional 130 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of Mohawk Industries by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company’s stock worth $2,748,000 after acquiring an additional 150 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Mohawk Industries by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 7,816 shares of the company’s stock valued at $931,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

MHK has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group lowered their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Evercore ISI lowered their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Barclays lowered their target price on Mohawk Industries from $125.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a research note on Tuesday, April 1st. They set a “hold” rating and a $121.00 price target on the stock. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.57.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $106.81 on Tuesday. The company’s fifty day simple moving average is $111.03 and its 200-day simple moving average is $124.13. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The company has a market cap of $6.68 billion, a PE ratio of 13.14, a P/E/G ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Mohawk Industries Profile

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.