OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Mohawk Industries (NYSE:MHK) by 45.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,831 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Mohawk Industries were worth $1,057,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in MHK. NuWave Investment Management LLC bought a new position in Mohawk Industries during the fourth quarter worth about $117,000. Cerebellum GP LLC bought a new position in Mohawk Industries during the fourth quarter worth about $124,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Mohawk Industries during the fourth quarter worth about $124,000. Calton & Associates Inc. bought a new position in Mohawk Industries during the fourth quarter worth about $171,000. Finally, Tower Research Capital LLC TRC bought a new position in Mohawk Industries during the fourth quarter worth about $174,000. 78.67% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William Henry Runge III purchased 500 shares of Mohawk Industries stock in a transaction dated Wednesday, February 14th. The shares were bought at an average cost of $250.87 per share, for a total transaction of $125,435.00. Following the purchase, the director now owns 2,335 shares in the company, valued at approximately $585,781.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard Thiers sold 17,383 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $250.00, for a total transaction of $4,345,750.00. Following the completion of the sale, the insider now owns 50,003 shares in the company, valued at $12,500,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,595 shares of company stock worth $8,603,365. 17.00% of the stock is currently owned by corporate insiders.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.10. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company posted $3.26 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. equities analysts predict that Mohawk Industries will post 15.65 EPS for the current fiscal year.
A number of research firms recently commented on MHK. Zacks Investment Research lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Robert W. Baird reduced their price objective on shares of Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Loop Capital started coverage on shares of Mohawk Industries in a research note on Thursday, March 1st. They set a “hold” rating and a $261.00 price objective on the stock. Finally, Longbow Research upgraded shares of Mohawk Industries from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $293.07.
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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).
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