Rhumbline Advisers Buys 353 Shares of Mohawk Industries, Inc. (MHK)
Rhumbline Advisers grew its stake in Mohawk Industries, Inc. (NYSE:MHK) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 118,473 shares of the company’s stock after buying an additional 353 shares during the quarter. Rhumbline Advisers owned 0.16% of Mohawk Industries worth $25,385,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Mohawk Industries by 30.5% during the first quarter. Victory Capital Management Inc. now owns 16,310 shares of the company’s stock worth $3,788,000 after purchasing an additional 3,809 shares during the last quarter. Toronto Dominion Bank lifted its stake in Mohawk Industries by 25.3% during the first quarter. Toronto Dominion Bank now owns 34,096 shares of the company’s stock worth $7,917,000 after purchasing an additional 6,878 shares during the last quarter. Shepherd Kaplan Krochuk LLC lifted its stake in Mohawk Industries by 34.9% during the first quarter. Shepherd Kaplan Krochuk LLC now owns 2,705 shares of the company’s stock worth $628,000 after purchasing an additional 700 shares during the last quarter. Capital Investment Services of America Inc. lifted its stake in Mohawk Industries by 1.9% during the second quarter. Capital Investment Services of America Inc. now owns 34,814 shares of the company’s stock worth $7,460,000 after purchasing an additional 642 shares during the last quarter. Finally, Apertura Capital LLC purchased a new stake in Mohawk Industries during the second quarter worth approximately $1,650,000. Institutional investors and hedge funds own 77.96% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, April 20th. Credit Suisse Group decreased their target price on Mohawk Industries from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, April 27th. Loop Capital decreased their target price on Mohawk Industries to $227.00 and set a “hold” rating for the company in a research note on Friday, April 27th. Robert W. Baird set a $272.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research note on Monday, April 30th. Finally, Stifel Nicolaus decreased their target price on Mohawk Industries from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, April 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $254.07.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Wednesday, July 25th. The company reported $3.51 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the firm posted $3.72 EPS. Mohawk Industries’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts anticipate that Mohawk Industries, Inc. will post 13.71 earnings per share for the current year.
In other Mohawk Industries news, insider Bernard Thiers sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $212.60, for a total value of $2,126,000.00. Following the completion of the sale, the insider now owns 45,156 shares in the company, valued at $9,600,165.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Filip Balcaen acquired 25,000 shares of Mohawk Industries stock in a transaction on Friday, August 3rd. The stock was purchased at an average price of $183.45 per share, with a total value of $4,586,250.00. Following the purchase, the director now owns 776 shares of the company’s stock, valued at approximately $142,357.20. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 110,000 shares of company stock valued at $20,167,250. 16.80% of the stock is owned by company insiders.
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: Diversification
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