Rhumbline Advisers decreased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,020 shares of the company’s stock after selling 10,907 shares during the period. Rhumbline Advisers owned approximately 0.15% of Mohawk Industries worth $13,879,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in MHK. Montag A & Associates Inc. bought a new position in Mohawk Industries in the first quarter worth $221,000. Parallel Advisors LLC lifted its position in Mohawk Industries by 28.0% in the first quarter. Parallel Advisors LLC now owns 452 shares of the company’s stock worth $57,000 after purchasing an additional 99 shares during the period. Moors & Cabot Inc. bought a new position in Mohawk Industries in the first quarter worth $856,000. Starr International Co. Inc. bought a new position in Mohawk Industries in the first quarter worth $1,123,000. Finally, Tocqueville Asset Management L.P. lifted its position in Mohawk Industries by 234.2% in the first quarter. Tocqueville Asset Management L.P. now owns 150,285 shares of the company’s stock worth $18,958,000 after purchasing an additional 105,315 shares during the period. Institutional investors and hedge funds own 81.58% of the company’s stock.
Shares of NYSE MHK opened at $134.21 on Thursday. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 2.37 and a beta of 1.53. Mohawk Industries, Inc. has a 52-week low of $109.35 and a 52-week high of $228.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.37 and a quick ratio of 0.68.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.06. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $3.01 earnings per share. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 10.77 earnings per share for the current year.
In related news, VP Rodney David Patton sold 2,260 shares of Mohawk Industries stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total value of $301,710.00. Following the completion of the transaction, the vice president now directly owns 9,134 shares of the company’s stock, valued at $1,219,389. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 18.00% of the company’s stock.
Several research analysts recently commented on MHK shares. Jefferies Financial Group raised Mohawk Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $145.00 to $167.00 in a research report on Tuesday, April 30th. Zacks Investment Research raised Mohawk Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Stifel Nicolaus raised Mohawk Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $180.00 in a research report on Wednesday. Robert W. Baird set a $156.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Co lifted their price objective on Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Monday, February 11th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $149.53.
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Mohawk Industries Profile
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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