TD Asset Management Inc. boosted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 127.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,947 shares of the company’s stock after buying an additional 50,472 shares during the period. TD Asset Management Inc. owned 0.12% of Mohawk Industries worth $21,739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilbanks Smith & Thomas Asset Management LLC increased its position in Mohawk Industries by 0.7% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,519 shares of the company’s stock valued at $349,000 after buying an additional 11 shares during the period. BTC Capital Management Inc. increased its position in Mohawk Industries by 1.1% in the first quarter. BTC Capital Management Inc. now owns 1,265 shares of the company’s stock valued at $289,000 after buying an additional 14 shares during the period. ING Groep NV increased its position in Mohawk Industries by 0.4% in the second quarter. ING Groep NV now owns 4,877 shares of the company’s stock valued at $1,179,000 after buying an additional 19 shares during the period. IFP Advisors Inc increased its position in Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $121,000 after buying an additional 28 shares during the period. Finally, Cleararc Capital Inc. increased its position in Mohawk Industries by 2.3% in the first quarter. Cleararc Capital Inc. now owns 1,550 shares of the company’s stock valued at $356,000 after buying an additional 35 shares during the period. 76.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of Mohawk Industries, Inc. (NYSE MHK) opened at 245.43 on Friday. Mohawk Industries, Inc. has a 12-month low of $175.52 and a 12-month high of $252.89. The company’s 50 day moving average is $245.96 and its 200 day moving average is $234.13. The firm’s market capitalization is $18.24 billion.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the business earned $3.47 EPS. Mohawk Industries’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that Mohawk Industries, Inc. will post $13.53 earnings per share for the current year.

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Several research firms have recently weighed in on MHK. BidaskClub downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Stifel Nicolaus raised their price target on shares of Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 1st. MKM Partners restated a “buy” rating and set a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $267.00 price target on shares of Mohawk Industries in a report on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $266.64.

In other Mohawk Industries news, VP Rodney David Patton sold 387 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $242.00, for a total transaction of $93,654.00. Following the completion of the transaction, the vice president now owns 7,061 shares of the company’s stock, valued at approximately $1,708,762. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 6,200 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $240.62, for a total value of $1,491,844.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,587 shares of company stock valued at $1,823,768. Insiders own 17.10% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

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

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