Sumitomo Mitsui Trust Holdings Inc. raised its stake in Mohawk Industries, Inc. (NYSE:MHK) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 176,205 shares of the company’s stock after buying an additional 3,261 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Mohawk Industries worth $42,587,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MHK. Kornitzer Capital Management Inc. KS increased its position in Mohawk Industries by 59.7% in the first quarter. Kornitzer Capital Management Inc. KS now owns 24,565 shares of the company’s stock valued at $5,637,000 after buying an additional 9,180 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Mohawk Industries by 3.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,101 shares of the company’s stock valued at $2,318,000 after buying an additional 365 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Mohawk Industries by 62.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,333 shares of the company’s stock valued at $2,142,000 after buying an additional 3,605 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Mohawk Industries by 15.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,368 shares of the company’s stock valued at $1,231,000 after buying an additional 738 shares during the last quarter. Finally, 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 last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Mohawk Industries, Inc. (NYSE:MHK) opened at 247.06 on Friday. The stock has a 50 day moving average of $247.37 and a 200-day moving average of $236.51. The company’s market capitalization is $18.37 billion. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $252.89.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the business earned $3.47 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post $13.52 earnings per share for the current fiscal year.

WARNING: This article was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://theolympiareport.com/2017/08/27/sumitomo-mitsui-trust-holdings-inc-acquires-3261-shares-of-mohawk-industries-inc-mhk.html.

Several research firms have recently weighed in on MHK. Zacks Investment Research downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. MKM Partners reiterated a “buy” rating and issued a $286.00 target price (up previously from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $291.00 target price on shares of Mohawk Industries in a research note on Monday, July 31st. BidaskClub downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Finally, Credit Suisse Group began coverage on shares of Mohawk Industries in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 target price for the company. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $266.64.

In related news, Director Cock Frans Georges De sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the completion of the sale, the director now directly owns 13,016 shares in the company, valued at $3,101,322.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 6,200 shares of the business’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. Insiders have sold 7,724 shares of company stock valued at $1,857,577 over the last quarter. 17.10% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries, Inc. (NYSE:MHK).

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

Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.