Mohawk Industries, Inc. Just Recorded A Sigfniciant Bearish Options Activity

 Mohawk Industries, Inc. Just Recorded A Sigfniciant Bearish Options Activity

In today’s session Mohawk Industries, Inc. (MHK) recorded an unusually high (300) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious MHK decrease. With 300 contracts traded and 1484 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: MHK161118P00190000 closed last at: $4 or 25% up. About 149,825 shares traded hands. Mohawk Industries, Inc. (NYSE:MHK) has risen 10.32% since March 8, 2016 and is uptrending. It has outperformed by 1.00% the S&P500.

Analysts await Mohawk Industries, Inc. (NYSE:MHK) to report earnings on November, 3. They expect $3.45 EPS, up 15.77% or $0.47 from last year’s $2.98 per share. MHK’s profit will be $255.93 million for 14.03 P/E if the $3.45 EPS becomes a reality. After $3.47 actual EPS reported by Mohawk Industries, Inc. for the previous quarter, Wall Street now forecasts -0.58% negative EPS growth.

Mohawk Industries, Inc. (NYSE:MHK) Ratings Coverage

Out of 11 analysts covering Mohawk (NYSE:MHK), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. $244 is the highest target while $185 is the lowest. The $218.27 average target is 12.75% above today’s ($193.58) stock price. Mohawk has been the topic of 16 analyst reports since August 10, 2015 according to StockzIntelligence Inc. On Tuesday, October 6 the stock rating was initiated by Goldman Sachs with “Buy”. RBC Capital Markets maintained Mohawk Industries, Inc. (NYSE:MHK) on Monday, August 10 with “Outperform” rating. The stock of Mohawk Industries, Inc. (NYSE:MHK) earned “Outperform” rating by Robert W. Baird on Tuesday, November 3. JP Morgan downgraded the stock to “Neutral” rating in Tuesday, March 15 report. As per Tuesday, May 24, the company rating was initiated by Topeka Capital Markets. The stock of Mohawk Industries, Inc. (NYSE:MHK) earned “Overweight” rating by Barclays Capital on Thursday, April 7. The rating was initiated by M Partners on Tuesday, April 12 with “Buy”. The firm has “Buy” rating given on Monday, August 10 by Stifel Nicolaus. The stock of Mohawk Industries, Inc. (NYSE:MHK) earned “Outperform” rating by RBC Capital Markets on Monday, November 9. As per Tuesday, October 13, the company rating was maintained by Barclays Capital.

According to Zacks Investment Research, “Mohawk Industries, Inc. is one of the leading producers of woven and tufted broadloom carpet and rugs for principally residential applications. The company designs, manufactures and markets carpet and rugs in a broad range of colors, textures and patterns. The company is widely recognized through its premier brand names, some of which are Mohawk, Aladdin, American Rug Craftsmen, American Weavers, Bigelow, and Custom Weave.”

Insitutional Activity: The institutional sentiment increased to 1.23 in Q2 2016. Its up 0.41, from 0.82 in 2016Q1. The ratio increased, as 31 funds sold all Mohawk Industries, Inc. shares owned while 150 reduced positions. 68 funds bought stakes while 154 increased positions. They now own 56.04 million shares or 7.09% less from 60.31 million shares in 2016Q1.
Turner Invs L P accumulated 0.74% or 12,400 shares. Louisiana State Employees Retirement holds 0.04% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK) for 4,200 shares. Guggenheim Cap Limited Liability Company reported 178,206 shares or 0.11% of all its holdings. Pr Herzig & last reported 2,000 shares in the company. Cantab Capital Prns Limited Liability Partnership holds 0% or 1,749 shares in its portfolio. Jaffetilchin Prns Limited Co owns 1,927 shares or 0.11% of their US portfolio. Of Vermont accumulated 0% or 75 shares. Aviva Pcl has 37,404 shares for 0.05% of their US portfolio. Egerton Cap (Uk) Limited Liability Partnership, a United Kingdom-based fund reported 1.41M shares. Blackrock Advisors Ltd has 0.01% invested in the company for 76,756 shares. Employees Retirement Sys Of Texas owns 13,000 shares or 0.03% of their US portfolio. Livforsakringsbolaget Skandia Omsesidigt, a Sweden-based fund reported 6,640 shares. Northern reported 731,949 shares or 0.05% of all its holdings. Princeton Alpha Mgmt Lp, a New Jersey-based fund reported 12,421 shares. Shell Asset Management has invested 0.02% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK).

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 12 selling transactions for $13.23 million net activity. $626,600 worth of shares were sold by Boykin Frank H on Tuesday, May 10. Another trade for 1,511 shares valued at $295,841 was made by Turner John C JR on Friday, May 13. HELEN SUZANNE L also sold $993,600 worth of Mohawk Industries, Inc. (NYSE:MHK) on Wednesday, September 7. $2.78 million worth of shares were sold by Thiers Bernard on Tuesday, May 10. Carson Brian sold $45,876 worth of stock. Another trade for 1,555 shares valued at $330,438 was made by Patton Rodney David on Wednesday, August 31. $784,140 worth of shares were sold by De Cock Frans Georges on Thursday, August 25.

Mohawk Industries, Inc. is a flooring maker that creates products for residential and commercial spaces around the world. The company has a market cap of $14.36 billion. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring. It has a 17.31 P/E ratio. It operates in three divisions: Global Ceramic, which designs, makes, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, makes, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, makes, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.

MHK Company Profile

Mohawk Industries, Inc. (Mohawk), incorporated on December 22, 1988, is a flooring maker that creates products for residential and commercial spaces around the world. The Firm operates in three divisions: Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. The Company’s trademarks include American Olean, Bigelow, Daltile, Durkan, IVC, Karastan, Lees, Marazzi, Mohawk, Pergo, Quick-Step and Unilin. Mohawk has activities in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.

More important recent Mohawk Industries, Inc. (NYSE:MHK) news were published by: Timesfreepress.com which released: “Mohawk profits, sales rise to record high in spring quarter” on August 04, 2016, also Timesfreepress.com published article titled: “Mohawk Industries rolls up record sales in quarter”, Prnewswire.com published: “Mohawk Industries, Inc. Invites You to Join the Third Quarter 2016 Conference …” on October 03, 2016. More interesting news about Mohawk Industries, Inc. (NYSE:MHK) was released by: Timesfreepress.com and their article: “Mohawk Industries expands apprentice program” with publication date: August 23, 2016.

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