Great West Life Assurance Co. Can cut its position in Mohawk Industries, Inc. (NYSE:MHK) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 46,041 shares of the company’s stock after selling 950 shares during the period. Great West Life Assurance Co. Can’s holdings in Mohawk Industries were worth $11,115,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of MHK. Washington Trust Bank increased its position in shares of Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock worth $110,000 after buying an additional 215 shares during the period. IFP Advisors Inc increased its position in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Mohawk Industries during the first quarter worth $179,000. Bahl & Gaynor Inc. bought a new position in shares of Mohawk Industries during the first quarter worth $202,000. Finally, IBM Retirement Fund increased its position in shares of Mohawk Industries by 34.7% in the second quarter. IBM Retirement Fund now owns 924 shares of the company’s stock worth $223,000 after buying an additional 238 shares during the period. 76.31% of the stock is currently owned by institutional investors.
Mohawk Industries, Inc. (NYSE MHK) opened at 249.68 on Thursday. Mohawk Industries, Inc. has a 12 month low of $175.52 and a 12 month high of $252.23. The firm’s 50-day moving average is $245.78 and its 200-day moving average is $233.79. The company’s market capitalization is $18.56 billion.
Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share 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 business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the business earned $3.47 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Mohawk Industries, Inc. will post $13.53 EPS for the current fiscal year.
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A number of brokerages recently weighed in on MHK. MKM Partners reissued a “buy” rating and issued a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. BidaskClub downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Nomura assumed coverage on shares of Mohawk Industries in a report on Wednesday, April 12th. They set a “buy” rating and a $280.00 price objective on the stock. Credit Suisse Group assumed coverage on shares of Mohawk Industries in a report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price objective on the stock. Finally, Stifel Nicolaus upped their price objective on shares of Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 1st. Three research 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 a consensus target price of $266.64.
In other Mohawk Industries news, VP Rodney David Patton sold 387 shares of the 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 completion of the sale, the vice president now directly owns 7,061 shares in the company, valued at $1,708,762. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Suzanne L. Helen sold 6,200 shares of the stock in a transaction dated Friday, June 9th. The shares were 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 a total of 7,587 shares of company stock valued at $1,823,768 over the last 90 days. 17.10% of the stock is currently owned by company insiders.
Mohawk Industries Company 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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