Advisor Partners LLC increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 9.7% during the second quarter, Holdings Channel reports. The firm owned 1,571 shares of the company’s stock after buying an additional 139 shares during the period. Advisor Partners LLC’s holdings in Mohawk Industries were worth $380,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Washington Trust Bank boosted 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 valued at $110,000 after buying an additional 215 shares during the period. IFP Advisors Inc boosted 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 valued at $121,000 after buying an additional 28 shares during the period. First Manhattan Co. bought a new position in shares of Mohawk Industries during the second quarter valued at $160,000. Meeder Asset Management Inc. bought a new position in shares of Mohawk Industries during the first quarter valued at $179,000. Finally, Bahl & Gaynor Inc. bought a new position in shares of Mohawk Industries during the first quarter valued at $202,000. Institutional investors own 76.31% of the company’s stock.
Shares of Mohawk Industries, Inc. (MHK) opened at 249.68 on Thursday. Mohawk Industries, Inc. has a 1-year low of $175.52 and a 1-year high of $252.89. The company’s 50-day moving average price is $245.78 and its 200 day moving average price is $233.79. The company’s market cap is $18.56 billion.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $2.45 billion. During the same quarter in the prior year, the business posted $3.47 EPS. Mohawk Industries’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts predict that Mohawk Industries, Inc. will post $13.53 earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on MHK. MKM Partners reiterated a “buy” rating and issued a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. BidaskClub cut Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Nomura began coverage on Mohawk Industries in a research report on Wednesday, April 12th. They issued a “buy” rating and a $280.00 price target for the company. Credit Suisse Group began coverage on Mohawk Industries in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $266.64.
In other Mohawk Industries news, Director Cock Frans Georges De sold 1,000 shares of the stock in a transaction on 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 sale, the director now owns 13,016 shares in the company, valued at approximately $3,101,322.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Rodney David Patton sold 387 shares of the stock in a transaction on 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 owns 7,061 shares of the company’s stock, valued at approximately $1,708,762. The disclosure for this sale can be found here. Insiders sold a total of 7,587 shares of company stock valued at $1,823,768 in the last quarter. 17.10% of the stock is currently owned by company 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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