What’s in Mohawk Industries Inc (NYSE:MHK) After Rise in Shorted Shares?

March 21, 2018 - By Migdalia James

 What’s in Mohawk Industries Inc (NYSE:MHK) After Rise in Shorted Shares?

Investors sentiment increased to 1.1 in Q3 2017. Its up 0.01, from 1.09 in 2017Q2. It improved, as 27 investors sold Mohawk Industries, Inc. shares while 171 reduced holdings. 59 funds opened positions while 158 raised stakes. 55.82 million shares or 0.01% less from 55.83 million shares in 2017Q2 were reported.
Patten Group holds 11 shares or 0.01% of its portfolio. Teacher Retirement Systems Of Texas reported 856 shares. 19,801 are held by Automobile Association. Sg Americas Securities Lc owns 42,768 shares. Schwab Charles Investment Management reported 0.05% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). Credit Agricole S A reported 53,701 shares. Vaughan Nelson Inv Mngmt L P stated it has 0.86% in Mohawk Industries, Inc. (NYSE:MHK). Bahl Gaynor Inc reported 882 shares or 0% of all its holdings. Goldman Sachs Grp Inc has invested 0.04% in Mohawk Industries, Inc. (NYSE:MHK). Hitchwood Mngmt Lp holds 4.39% or 415,000 shares. Bamco Inc owns 242,927 shares for 0.29% of their portfolio. Kbc Gp Nv has 0.02% invested in Mohawk Industries, Inc. (NYSE:MHK) for 10,986 shares. Gemmer Asset Management Limited Liability reported 84 shares or 0.01% of all its holdings. Retirement Of Alabama has 30,656 shares. Northwestern Mutual Wealth Mngmt Communication invested 0% in Mohawk Industries, Inc. (NYSE:MHK).

Since February 14, 2018, it had 1 buying transaction, and 11 sales for $9.24 million activity. WELLBORN CHISTOPHER had sold 8,707 shares worth $2.19 million on Friday, February 16. 500 shares valued at $125,435 were bought by RUNGE WILLIAM HENRY III on Wednesday, February 14. Thiers Bernard sold $654,250 worth of Mohawk Industries, Inc. (NYSE:MHK) on Friday, February 23. Boykin Frank H had sold 1,032 shares worth $255,501. Patton Rodney David also sold $109,270 worth of Mohawk Industries, Inc. (NYSE:MHK) shares.

The stock of Mohawk Industries Inc (NYSE:MHK) registered an increase of 8.39% in short interest. MHK’s total short interest was 1.19 million shares in March as published by FINRA. Its up 8.39% from 1.10M shares, reported previously. With 553,200 shares average volume, it will take short sellers 2 days to cover their MHK’s short positions. The short interest to Mohawk Industries Inc’s float is 1.91%.

The stock increased 1.03% or $2.54 during the last trading session, reaching $249.33. About 120,541 shares traded. Mohawk Industries, Inc. (NYSE:MHK) has risen 20.32% since March 21, 2017 and is uptrending. It has outperformed by 3.62% the S&P500.

Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. The company has market cap of $18.56 billion. It operates through three divisions: Global Ceramic, Flooring North America , and Flooring Rest of the World (Flooring ROW). It has a 5 P/E ratio. The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and natural stone products; and sources, markets, and distributes other tile related products.

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

Among 20 analysts covering Mohawk (NYSE:MHK), 16 have Buy rating, 0 Sell and 4 Hold. Therefore 80% are positive. Mohawk had 50 analyst reports since August 10, 2015 according to SRatingsIntel. The rating was initiated by Wells Fargo with “Market Perform” on Thursday, September 29. The stock of Mohawk Industries, Inc. (NYSE:MHK) has “Neutral” rating given on Monday, October 30 by JP Morgan. The firm earned “Outperform” rating on Friday, December 16 by Macquarie Research. RBC Capital Markets maintained it with “Buy” rating and $291.0 target in Wednesday, September 6 report. As per Tuesday, October 6, the company rating was initiated by Goldman Sachs. The company was maintained on Wednesday, January 17 by Jefferies. JP Morgan downgraded it to “Neutral” rating and $215 target in Tuesday, March 15 report. Credit Suisse maintained it with “Buy” rating and $310.0 target in Monday, January 22 report. The company was maintained on Monday, February 12 by Robert W. Baird. The stock of Mohawk Industries, Inc. (NYSE:MHK) has “Buy” rating given on Monday, October 30 by RBC Capital Markets.

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