Bearish Options Activity on Mohawk Industries, Inc. After Worse Fundamentals

 Bearish Options Activity on Mohawk Industries, Inc. After Worse Fundamentals

In today’s session Mohawk Industries, Inc. (MHK) recorded an unusually high (1,797) 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 1,797 contracts traded and 36424 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: MHK161118P00170000 closed last at: $0.75 or 77.3% down. About 147,630 shares traded hands. Mohawk Industries, Inc. (NYSE:MHK) has risen 0.81% since April 5, 2016 and is uptrending. It has underperformed by 1.15% the S&P500.

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

Out of 11 analysts covering Mohawk (NYSE:MHK), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Mohawk has been the topic of 17 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, November 9 by RBC Capital Markets. Robert W. Baird initiated it with “Outperform” rating and $224 target price in Tuesday, November 3 report. Barclays Capital maintained the shares of MHK in a report on Thursday, April 7 with “Overweight” rating. The firm has “Buy” rating by Stifel Nicolaus given on Monday, August 10. Goldman Sachs initiated Mohawk Industries, Inc. (NYSE:MHK) on Tuesday, October 6 with “Buy” rating. The firm earned “Hold” rating on Tuesday, May 24 by Topeka Capital Markets. RBC Capital Markets maintained Mohawk Industries, Inc. (NYSE:MHK) on Monday, August 10 with “Outperform” rating. The rating was maintained by Barclays Capital with “Outperform” on Tuesday, October 13. The rating was initiated by Wells Fargo on Thursday, September 29 with “Market Perform”. M Partners initiated it with “Buy” rating and $244 target price in Tuesday, April 12 report.

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.
Srb Corporation last reported 0.02% of its portfolio in the stock. Egerton Cap (Uk) Ltd Liability Partnership has invested 3% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). American Natl Ins Communications Tx last reported 0.2% of its portfolio in the stock. Paloma Prtn Management holds 9,938 shares or 0.02% of its portfolio. Fincl Architects accumulated 324 shares or 0.02% of the stock. Parametric Portfolio Associates Ltd Limited Liability Company, a Washington-based fund reported 68,789 shares. Walleye Trading Limited Liability Corp accumulated 0% or 1,659 shares. Los Angeles Capital Mgmt Equity last reported 0.03% of its portfolio in the stock. Janus Capital Mngmt Limited Liability holds 0.07% or 452,328 shares in its portfolio. Jane Street Grp Ltd has 23,936 shares for 0.02% of their US portfolio. Meiji Yasuda Asset Mgmt has invested 0.1% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). Oppenheimer And Company accumulated 8,972 shares or 0.05% of the stock. The Alabama-based Weiss Multi has invested 0.26% in Mohawk Industries, Inc. (NYSE:MHK). Ubs Asset Management Americas Incorporated owns 141,500 shares or 0.03% of their US portfolio. Federated Investors Pa has invested 0.13% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK).

Insider Transactions: Since May 10, 2016, the stock had 0 insider purchases, and 10 selling transactions for $9.82 million net activity. Shares for $993,600 were sold by HELEN SUZANNE L. Thiers Bernard sold $2.78 million worth of stock or 14,000 shares. Shares for $626,600 were sold by Boykin Frank H. WELLBORN CHISTOPHER sold $2.05 million worth of stock. Patton Rodney David had sold 1,555 shares worth $330,438 on Wednesday, August 31. Carson Brian had sold 215 shares worth $45,876. $784,140 worth of Mohawk Industries, Inc. (NYSE:MHK) was 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 $14.80 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 16.41 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 recent Mohawk Industries, Inc. (NYSE:MHK) news were published by: Prnewswire.com which released: “Mohawk Industries Reports Record Third Quarter” on November 03, 2016. Also Prnewswire.com published the news titled: “Mohawk Industries Reports Record Second Quarter” on August 04, 2016. Forbes.com‘s news article titled: “Mohawk Industries Enters Oversold Territory (MHK)” with publication date: October 11, 2016 was also an interesting one.

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