Russell Investments Group Ltd. lessened its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 259,046 shares of the company’s stock after selling 30,114 shares during the period. Russell Investments Group Ltd. owned approximately 0.36% of Mohawk Industries worth $32,119,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of MHK. BlackRock Inc. grew its position in shares of Mohawk Industries by 2.0% during the 2nd quarter. BlackRock Inc. now owns 4,292,004 shares of the company’s stock valued at $632,943,000 after acquiring an additional 82,737 shares during the period. JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 12.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,074,968 shares of the company’s stock valued at $301,057,000 after buying an additional 232,384 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Mohawk Industries by 45.0% in the 2nd quarter. Pzena Investment Management LLC now owns 1,979,015 shares of the company’s stock valued at $291,845,000 after buying an additional 614,307 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Mohawk Industries by 13.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,473,746 shares of the company’s stock valued at $217,332,000 after buying an additional 172,676 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Mohawk Industries in the 2nd quarter valued at about $98,056,000. Hedge funds and other institutional investors own 83.26% of the company’s stock.
MHK opened at $152.12 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.77. The company’s 50 day simple moving average is $130.06 and its two-hundred day simple moving average is $133.44. Mohawk Industries, Inc. has a 1-year low of $108.93 and a 1-year high of $156.60. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 24th. The company reported $2.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.11. Mohawk Industries had a net margin of 7.09% and a return on equity of 9.82%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company posted $3.29 EPS. The business’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 9.97 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on MHK shares. Barclays raised their price target on shares of Mohawk Industries from $143.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Buckingham Research raised shares of Mohawk Industries from an “underperform” rating to a “neutral” rating and raised their price target for the company from $115.00 to $117.00 in a research note on Tuesday, July 30th. Stifel Nicolaus raised their price target on shares of Mohawk Industries from $145.00 to $165.00 in a research note on Monday, October 28th. Raymond James decreased their price target on shares of Mohawk Industries from $145.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Co lowered shares of Mohawk Industries from a “market perform” rating to an “underperform” rating and set a $110.00 price target on the stock. in a research note on Monday, October 14th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Mohawk Industries presently has a consensus rating of “Hold” and an average target price of $140.20.
In related news, CEO Jeffrey S. Lorberbaum sold 10,600 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $142.64, for a total transaction of $1,511,984.00. Following the transaction, the chief executive officer now owns 47,603 shares of the company’s stock, valued at $6,790,091.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cock Paul F. De sold 800 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $126.44, for a total transaction of $101,152.00. Following the transaction, the insider now directly owns 25,360 shares in the company, valued at approximately $3,206,518.40. The disclosure for this sale can be found here. Insiders have sold 12,889 shares of company stock worth $1,829,249 in the last three months. Insiders own 18.00% of the company’s stock.
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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