Mohawk Industries, Inc. (MHK) Position Raised by First Trust Advisors LP

First Trust Advisors LP boosted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 11.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,109 shares of the company’s stock after purchasing an additional 8,553 shares during the quarter. First Trust Advisors LP owned about 0.12% of Mohawk Industries worth $15,099,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Mohawk Industries by 0.3% in the first quarter. Principal Financial Group Inc. now owns 1,199,943 shares of the company’s stock valued at $278,651,000 after purchasing an additional 3,493 shares in the last quarter. IFM Investors Pty Ltd grew its position in Mohawk Industries by 81.9% during the second quarter. IFM Investors Pty Ltd now owns 2,176 shares of the company’s stock worth $466,000 after buying an additional 980 shares in the last quarter. State of Alaska Department of Revenue grew its position in Mohawk Industries by 22.6% during the second quarter. State of Alaska Department of Revenue now owns 14,656 shares of the company’s stock worth $3,139,000 after buying an additional 2,700 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in Mohawk Industries by 9.9% during the second quarter. Xact Kapitalforvaltning AB now owns 11,428 shares of the company’s stock worth $2,449,000 after buying an additional 1,025 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. grew its position in Mohawk Industries by 12.7% during the second quarter. NN Investment Partners Holdings N.V. now owns 9,446 shares of the company’s stock worth $2,024,000 after buying an additional 1,065 shares in the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.

In other news, insider Bernard Thiers sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the transaction, the insider now directly owns 40,156 shares in the company, valued at approximately $7,629,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $186.74, for a total value of $2,502,316.00. Following the completion of the transaction, the chairman now owns 45,187 shares of the company’s stock, valued at $8,438,220.38. The disclosure for this sale can be found here. Insiders bought a total of 262,698 shares of company stock valued at $31,728,885 over the last quarter. Company insiders own 16.80% of the company’s stock.

MHK opened at $125.65 on Friday. Mohawk Industries, Inc. has a 12-month low of $113.45 and a 12-month high of $286.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.79. The stock has a market capitalization of $9.39 billion, a PE ratio of 9.23, a PEG ratio of 1.52 and a beta of 1.62.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, October 25th. The company reported $3.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.58 by ($0.29). Mohawk Industries had a return on equity of 13.49% and a net margin of 8.81%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 12.46 EPS for the current year.

Mohawk Industries announced that its board has authorized a share repurchase plan on Thursday, October 25th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Several research firms recently commented on MHK. JPMorgan Chase & Co. reduced their target price on Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating for the company in a research report on Monday, October 29th. SunTrust Banks reduced their target price on Mohawk Industries from $270.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Raymond James reduced their target price on Mohawk Industries from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Wells Fargo & Co reduced their target price on Mohawk Industries from $195.00 to $130.00 and set a “market perform” rating for the company in a research report on Monday, October 29th. Finally, Barclays reduced their target price on Mohawk Industries from $215.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Mohawk Industries has an average rating of “Hold” and an average price target of $175.06.

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

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