Mackay Shields LLC Takes $2.47 Million Position in Mohawk Industries (MHK)

Mackay Shields LLC acquired a new position in shares of Mohawk Industries (NYSE:MHK) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,638 shares of the company’s stock, valued at approximately $2,470,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NuWave Investment Management LLC bought a new stake in shares of Mohawk Industries during the 4th quarter worth $117,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Mohawk Industries during the 4th quarter worth $124,000. Cerebellum GP LLC bought a new stake in shares of Mohawk Industries during the 4th quarter worth $124,000. Calton & Associates Inc. bought a new stake in shares of Mohawk Industries during the 4th quarter worth $171,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Mohawk Industries during the 4th quarter worth $174,000. 78.03% of the stock is owned by institutional investors.

MHK has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Mohawk Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $310.00 price objective (up from $303.00) on shares of Mohawk Industries in a report on Monday, January 22nd. They noted that the move was a valuation call. Royal Bank of Canada dropped their price objective on shares of Mohawk Industries to $284.00 and set an “outperform” rating for the company in a report on Tuesday, May 1st. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective for the company in a report on Monday, April 16th. Finally, Goldman Sachs downgraded shares of Mohawk Industries from a “conviction-buy” rating to a “buy” rating and dropped their price objective for the stock from $306.00 to $292.00 in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $280.67.

Mohawk Industries opened at $211.84 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 0.81, a current ratio of 1.54 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.33 and a beta of 1.38. Mohawk Industries has a twelve month low of $206.86 and a twelve month high of $208.84.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, April 26th. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.40 billion. Mohawk Industries had a net margin of 10.12% and a return on equity of 15.05%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 earnings per share. equities analysts anticipate that Mohawk Industries will post 15.46 EPS for the current fiscal year.

In other news, CFO Frank H. Boykin sold 1,495 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $238.29, for a total transaction of $356,243.55. Following the completion of the transaction, the chief financial officer now directly owns 23,430 shares of the company’s stock, valued at $5,583,134.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Rodney David Patton sold 911 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $236.00, for a total transaction of $214,996.00. The disclosure for this sale can be found here. Over the last three months, insiders acquired 102,157 shares of company stock valued at $21,387,408 and sold 25,888 shares valued at $6,409,201. Insiders own 16.80% of the company’s stock.

Mohawk Industries Company 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).

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

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