Providence Capital Advisors LLC lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,502 shares of the company’s stock after buying an additional 289 shares during the period. Providence Capital Advisors LLC’s holdings in Mohawk Industries were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank increased its holdings in shares of Mohawk Industries by 2.9% during the 2nd quarter. Amalgamated Bank now owns 8,025 shares of the company’s stock worth $1,720,000 after buying an additional 225 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in Mohawk Industries by 36.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 886 shares of the company’s stock valued at $206,000 after purchasing an additional 235 shares during the last quarter. BerganKDV Wealth Management LLC increased its holdings in Mohawk Industries by 6.5% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 4,061 shares of the company’s stock valued at $870,000 after purchasing an additional 247 shares during the last quarter. TLP Group LLC increased its holdings in Mohawk Industries by 35.7% in the 1st quarter. TLP Group LLC now owns 980 shares of the company’s stock valued at $228,000 after purchasing an additional 258 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in Mohawk Industries by 6.0% in the 1st quarter. M&T Bank Corp now owns 4,596 shares of the company’s stock valued at $1,067,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.

MHK has been the subject of several research reports. Credit Suisse Group set a $275.00 target price on shares of Mohawk Industries and gave the company a “buy” rating in a report on Friday, June 1st. Barclays set a $278.00 target price on shares of Mohawk Industries and gave the company a “buy” rating in a report on Monday, April 30th. Robert W. Baird set a $272.00 target price on shares of Mohawk Industries and gave the company a “buy” rating in a report on Monday, April 30th. Stifel Nicolaus dropped their target price on shares of Mohawk Industries from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, April 30th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $270.00 target price on shares of Mohawk Industries in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of “Buy” and an average target price of $254.07.

In other news, Director Filip Balcaen acquired 50,000 shares of the firm’s stock in a transaction dated Friday, July 27th. The stock was acquired at an average cost of $183.02 per share, with a total value of $9,151,000.00. Following the transaction, the director now owns 776 shares in the company, valued at $142,023.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bernard Thiers sold 10,000 shares of Mohawk Industries stock in a transaction on Friday, June 15th. The stock was sold at an average price of $212.60, for a total transaction of $2,126,000.00. Following the sale, the insider now directly owns 45,156 shares of the company’s stock, valued at $9,600,165.60. The disclosure for this sale can be found here. Insiders acquired a total of 110,000 shares of company stock valued at $20,167,250 in the last three months. 16.80% of the stock is currently owned by corporate insiders.

MHK stock traded up $1.84 during midday trading on Friday, hitting $189.96. The company’s stock had a trading volume of 5,419 shares, compared to its average volume of 914,073. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 0.26. Mohawk Industries, Inc. has a 52-week low of $177.00 and a 52-week high of $286.85. The stock has a market capitalization of $13.60 billion, a PE ratio of 13.85, a P/E/G ratio of 1.92 and a beta of 1.30.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $3.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.90 by ($0.39). Mohawk Industries had a net margin of 9.34% and a return on equity of 14.35%. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the prior year, the business earned $3.72 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. analysts expect that Mohawk Industries, Inc. will post 13.71 EPS for the current fiscal year.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Further Reading: Book Value Per Share – BVPS

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

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