Pictet & Cie Europe SA lowered its position in Mohawk Industries (NYSE:MHK) by 41.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,934 shares of the company’s stock after selling 1,377 shares during the quarter. Pictet & Cie Europe SA’s holdings in Mohawk Industries were worth $449,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in MHK. Standard Life Aberdeen plc grew its stake in 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 purchasing an additional 879,636 shares in the last quarter. BlackRock Inc. grew its stake in 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 purchasing an additional 477,056 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Mohawk Industries by 307.0% in the first quarter. Neuberger Berman Group LLC now owns 288,916 shares of the company’s stock worth $67,128,000 after purchasing an additional 217,934 shares in the last quarter. Wells Fargo & Company MN grew its stake in Mohawk Industries by 16.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,013,789 shares of the company’s stock worth $279,705,000 after purchasing an additional 141,022 shares in the last quarter. Finally, Tide Point Capital Management LP bought a new position in Mohawk Industries in the fourth quarter worth approximately $38,055,000. 78.03% of the stock is currently owned by institutional investors.
In other news, insider Bernard Thiers sold 17,383 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $250.00, for a total transaction of $4,345,750.00. Following the completion of the sale, the insider now owns 50,003 shares in the company, valued at approximately $12,500,750. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rodney David Patton sold 911 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $236.00, for a total value of $214,996.00. The disclosure for this sale can be found here. In the last quarter, insiders have bought 102,157 shares of company stock valued at $21,387,408 and have sold 25,888 shares valued at $6,409,201. Corporate insiders own 16.80% of the company’s stock.
Shares of Mohawk Industries opened at $216.15 on Friday, according to MarketBeat.com. The company has a current ratio of 1.54, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.37 and a beta of 1.38. Mohawk Industries has a 12-month low of $206.74 and a 12-month high of $286.85.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 26th. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $3.00 by $0.01. Mohawk Industries had a return on equity of 15.05% and a net margin of 10.12%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business posted $2.72 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities research analysts expect that Mohawk Industries will post 15.46 EPS for the current year.
Several brokerages recently issued reports on MHK. ValuEngine cut Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. JPMorgan Chase dropped their target price on Mohawk Industries from $282.00 to $250.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 1st. Barclays set a $278.00 target price on Mohawk Industries and gave the company a “buy” rating in a research report on Monday, April 30th. Royal Bank of Canada dropped their target price on Mohawk Industries to $284.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 1st. Finally, Robert W. Baird set a $272.00 target price on Mohawk Industries and gave the company a “buy” rating in a research report on Monday, April 30th. One investment 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’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $280.67.
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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