JPMorgan Chase & Co. Has $1.22 Billion Position in Mohawk Industries, Inc. (MHK)
JPMorgan Chase & Co. raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,029,444 shares of the company’s stock after buying an additional 412,942 shares during the period. JPMorgan Chase & Co. owned approximately 6.77% of Mohawk Industries worth $1,215,567,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its position in Mohawk Industries by 27.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,104 shares of the company’s stock valued at $1,718,000 after buying an additional 1,533 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in shares of Mohawk Industries during the second quarter valued at approximately $1,540,000. Swiss National Bank raised its stake in shares of Mohawk Industries by 3.2% in the second quarter. Swiss National Bank now owns 230,474 shares of the company’s stock valued at $55,703,000 after buying an additional 7,100 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Mohawk Industries by 0.3% in the second quarter. Principal Financial Group Inc. now owns 1,211,095 shares of the company’s stock valued at $292,710,000 after buying an additional 4,001 shares in the last quarter. Finally, Bellwether Investment Group LLC raised its stake in shares of Mohawk Industries by 1.8% in the second quarter. Bellwether Investment Group LLC now owns 1,366 shares of the company’s stock valued at $330,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 76.97% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded up 0.66% during midday trading on Friday, hitting $254.80. The stock had a trading volume of 445,592 shares. Mohawk Industries, Inc. has a 1-year low of $175.52 and a 1-year high of $255.54. The firm has a 50-day moving average price of $247.91 and a 200-day moving average price of $237.68. The firm’s market cap is $18.94 billion.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $3.47 earnings per share. On average, equities analysts anticipate that Mohawk Industries, Inc. will post $13.52 EPS for the current fiscal year.
Several equities research analysts have commented on the company. MKM Partners restated a “buy” rating and set a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. BidaskClub lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Credit Suisse Group assumed coverage on Mohawk Industries in a research note on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price target for the company. Zacks Investment Research lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research note 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 research note on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $266.64.
In other news, VP Rodney David Patton sold 387 shares of Mohawk Industries stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $242.00, for a total value of $93,654.00. Following the transaction, the vice president now directly owns 7,061 shares in the company, valued at $1,708,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $238.27, for a total value of $238,270.00. Following the completion of the transaction, the director now owns 13,016 shares in the company, valued at $3,101,322.32. The disclosure for this sale can be found here. Insiders sold 7,724 shares of company stock worth $1,857,577 over the last quarter. 17.00% of the stock is currently owned by corporate 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.
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