Mohawk Industries, Inc. (MHK) Position Cut by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board trimmed its position in Mohawk Industries, Inc. (NYSE:MHK) by 23.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,011 shares of the company’s stock after selling 2,822 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Mohawk Industries were worth $2,230,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in Mohawk Industries by 399.2% in the second quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock valued at $8,312,000 after acquiring an additional 27,503 shares during the last quarter. Aviva PLC boosted its position in Mohawk Industries by 1.1% in the second quarter. Aviva PLC now owns 38,875 shares of the company’s stock valued at $9,396,000 after buying an additional 410 shares in the last quarter. American Century Companies Inc. acquired a new stake in Mohawk Industries in the second quarter valued at approximately $53,508,000. Utah Retirement Systems boosted its position in Mohawk Industries by 0.9% in the second quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock valued at $2,754,000 after buying an additional 100 shares in the last quarter. Finally, Swiss National Bank boosted its position in 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. 76.19% of the stock is currently owned by institutional investors and hedge funds.
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In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the transaction, the chairman now owns 21,396 shares in the company, valued at $5,454,910.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. 17.00% of the stock is currently owned by insiders.
A number of analysts have weighed in on MHK shares. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Northcoast Research started coverage on shares of Mohawk Industries in a research report on Thursday, October 5th. They issued a “buy” rating and a $295.00 target price on the stock. Barclays PLC raised their target price on shares of Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Finally, BidaskClub lowered shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $281.42.
Mohawk Industries, Inc. (MHK) opened at $272.20 on Friday. The company has a market cap of $19,860.00, a price-to-earnings ratio of 19.86, a PEG ratio of 2.42 and a beta of 1.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. Mohawk Industries, Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $272.46.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. Mohawk Industries’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.50 earnings per share. research analysts forecast that Mohawk Industries, Inc. will post 13.52 EPS for the current year.
Mohawk Industries Profile
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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