Tyers Asset Management LLC raised its position in Mohawk Industries, Inc. (NYSE:MHK) by 87.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,712 shares of the company’s stock after acquiring an additional 4,544 shares during the period. Tyers Asset Management LLC’s holdings in Mohawk Industries were worth $1,432,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Norinchukin Bank The grew its holdings in shares of Mohawk Industries by 0.7% during the first quarter. Norinchukin Bank The now owns 11,664 shares of the company’s stock valued at $1,471,000 after buying an additional 81 shares during the last quarter. Retirement Systems of Alabama lifted its position in Mohawk Industries by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 28,707 shares of the company’s stock valued at $4,233,000 after acquiring an additional 88 shares in the last quarter. Parallel Advisors LLC boosted its stake in Mohawk Industries by 28.0% during the 1st quarter. Parallel Advisors LLC now owns 452 shares of the company’s stock valued at $57,000 after purchasing an additional 99 shares during the last quarter. TD Asset Management Inc. boosted its stake in Mohawk Industries by 0.6% during the 1st quarter. TD Asset Management Inc. now owns 18,469 shares of the company’s stock valued at $2,330,000 after purchasing an additional 111 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mohawk Industries by 0.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,883 shares of the company’s stock worth $1,900,000 after purchasing an additional 118 shares in the last quarter. 84.95% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the company. National Securities began coverage on Mohawk Industries in a report on Thursday, July 11th. They issued a “buy” rating on the stock. ValuEngine raised Mohawk Industries from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 15th. Wells Fargo & Co raised Mohawk Industries from an “underperform” rating to a “market perform” rating and set a $115.00 price target for the company in a research report on Tuesday, August 20th. Stifel Nicolaus set a $145.00 price objective on Mohawk Industries and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Loop Capital lifted their price objective on shares of Mohawk Industries to $145.00 and gave the stock a “hold” rating in a report on Friday, June 14th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $141.41.
In related news, Director Bruce Bruckmann purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $117.69 per share, with a total value of $235,380.00. Following the purchase, the director now directly owns 286,691 shares of the company’s stock, valued at $33,740,663.79. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Filip Balcaen purchased 12,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $109.98 per share, for a total transaction of $1,374,750.00. Following the completion of the purchase, the director now directly owns 1,519 shares in the company, valued at $167,059.62. The disclosure for this purchase can be found here. 18.00% of the stock is currently owned by company insiders.
Shares of MHK traded up $3.20 during midday trading on Wednesday, hitting $129.10. 21,364 shares of the company traded hands, compared to its average volume of 619,074. The stock has a 50-day moving average of $120.04 and a 200-day moving average of $134.01. Mohawk Industries, Inc. has a one year low of $108.93 and a one year high of $191.68. The firm has a market cap of $8.75 billion, a P/E ratio of 10.47, a PEG ratio of 2.39 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.30 and a quick ratio of 0.66.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.02. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.65 billion. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. Mohawk Industries’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $3.51 earnings per share. Sell-side analysts forecast that Mohawk Industries, Inc. will post 9.96 EPS for the current fiscal year.
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).
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