AEGON ASSET MANAGEMENT UK Plc Purchases New Stake in Mohawk Industries, Inc. $MHK

AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 155,603 shares of the company’s stock, valued at approximately $20,054,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in shares of Mohawk Industries during the 3rd quarter worth about $25,000. MTM Investment Management LLC acquired a new position in Mohawk Industries in the 2nd quarter valued at about $28,000. Quent Capital LLC bought a new position in Mohawk Industries in the 3rd quarter valued at about $33,000. SJS Investment Consulting Inc. lifted its position in Mohawk Industries by 5,385.7% during the third quarter. SJS Investment Consulting Inc. now owns 384 shares of the company’s stock worth $50,000 after acquiring an additional 377 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its holdings in shares of Mohawk Industries by 22.6% during the third quarter. Resona Asset Management Co. Ltd. now owns 612 shares of the company’s stock worth $78,000 after acquiring an additional 113 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MHK shares. Wall Street Zen cut Mohawk Industries from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Wells Fargo & Company lowered their price objective on Mohawk Industries from $125.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, December 15th. Vertical Research assumed coverage on shares of Mohawk Industries in a research note on Monday, October 20th. They issued a “buy” rating on the stock. Barclays set a $121.00 price target on shares of Mohawk Industries in a research report on Monday, December 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Mohawk Industries in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.83.

Mohawk Industries Stock Performance

NYSE MHK opened at $120.75 on Monday. The firm’s 50 day simple moving average is $112.80 and its 200 day simple moving average is $119.53. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 2.15 and a beta of 1.22. The company has a current ratio of 2.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $143.13.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. Mohawk Industries had a net margin of 3.93% and a return on equity of 6.97%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.90 earnings per share. As a group, research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 3,500 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $110.36, for a total transaction of $386,260.00. Following the completion of the sale, the insider directly owned 70,593 shares in the company, valued at $7,790,643.48. This represents a 4.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 17,600 shares of company stock worth $1,945,754. 17.40% of the stock is currently owned by insiders.

About Mohawk Industries

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.