Renaissance Technologies LLC lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 41.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,900 shares of the company’s stock after buying an additional 30,095 shares during the period. Renaissance Technologies LLC owned about 0.14% of Mohawk Industries worth $28,114,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of MHK. Standard Life Aberdeen plc boosted its position in shares of Mohawk Industries by 5,674.0% in the fourth quarter. Standard Life Aberdeen plc now owns 895,139 shares of the company’s stock worth $246,982,000 after buying an additional 879,636 shares during the period. BlackRock Inc. boosted its position in shares of Mohawk Industries by 10.4% in the fourth quarter. BlackRock Inc. now owns 5,046,157 shares of the company’s stock worth $1,392,234,000 after buying an additional 477,056 shares during the period. Wells Fargo & Company MN boosted its position in Mohawk Industries by 46.3% during the third quarter. Wells Fargo & Company MN now owns 872,767 shares of the company’s stock valued at $216,018,000 after purchasing an additional 276,409 shares during the last quarter. KAMES CAPITAL plc boosted its position in Mohawk Industries by 1,816.2% during the fourth quarter. KAMES CAPITAL plc now owns 215,529 shares of the company’s stock valued at $59,467,000 after purchasing an additional 204,281 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Mohawk Industries by 181.4% during the third quarter. Point72 Asset Management L.P. now owns 285,883 shares of the company’s stock valued at $70,759,000 after purchasing an additional 184,283 shares during the last quarter. 78.67% of the stock is owned by institutional investors and hedge funds.
In other Mohawk Industries news, insider Bernard Thiers sold 17,383 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $250.00, for a total value of $4,345,750.00. Following the completion of the sale, the insider now owns 50,003 shares of the company’s stock, valued at $12,500,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chistopher Wellborn sold 8,707 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $252.00, for a total value of $2,194,164.00. The disclosure for this sale can be found here. Insiders sold 34,595 shares of company stock valued at $8,603,365 in the last ninety days. Insiders own 17.00% of the company’s stock.
MHK has been the subject of a number of research reports. Goldman Sachs cut Mohawk Industries from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the company from $306.00 to $292.00 in a research report on Thursday, March 1st. Zacks Investment Research cut Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Longbow Research raised Mohawk Industries from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Robert W. Baird reduced their price objective on Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $293.07.
Shares of Mohawk Industries stock opened at $247.10 on Thursday. Mohawk Industries, Inc. has a 12-month low of $223.84 and a 12-month high of $286.85. The firm has a market capitalization of $18,367.46, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.10. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm earned $3.26 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. sell-side analysts expect that Mohawk Industries, Inc. will post 15.65 EPS for the current fiscal year.
About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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