Choreo LLC Makes New Investment in Mohawk Industries, Inc. $MHK

Choreo LLC purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, Holdings Channel reports. The fund purchased 3,669 shares of the company’s stock, valued at approximately $458,000.

A number of other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Mohawk Industries during the 2nd quarter worth $25,000. Basecamp Wealth Advisors LLC grew its holdings in shares of Mohawk Industries by 2,281.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Elevation Wealth Partners LLC raised its position in Mohawk Industries by 122.2% in the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock valued at $27,000 after purchasing an additional 121 shares during the period. Pension & Wealth Management Advisors Inc. bought a new position in shares of Mohawk Industries in the third quarter valued at $36,000. Finally, Reyes Financial Architecture Inc. bought a new stake in Mohawk Industries during the third quarter worth about $37,000. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Down 0.4%

NYSE MHK opened at $150.25 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $92.99 and a fifty-two week high of $155.88. The company has a quick ratio of 1.09, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $127.34 and a two-hundred day moving average price of $117.28. The stock has a market cap of $8.73 billion, a PE ratio of 14.44, a P/E/G ratio of 2.13 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 29th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.14. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.67 EPS. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 9.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on MHK. Royal Bank Of Canada cut shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $130.00 to $112.00 in a report on Wednesday, October 7th. Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Melius Research initiated coverage on Mohawk Industries in a report on Tuesday, October 6th. They set a “buy” rating and a $188.00 price objective on the stock. Bank of America reiterated a “neutral” rating on shares of Mohawk Industries in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $121.00 price target on shares of Mohawk Industries in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Mohawk Industries presently has a consensus rating of “Hold” and a consensus price target of $138.92.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, Director Bernard Thiers sold 15,000 shares of Mohawk Industries stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $144.05, for a total value of $2,160,750.00. Following the sale, the director owned 78,633 shares in the company, valued at $11,327,083.65. The trade was a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 45,750 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $127.18, for a total transaction of $5,818,485.00. Following the transaction, the chief executive officer directly owned 78,425 shares of the company’s stock, valued at $9,974,091.50. This trade represents a 36.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 122,946 shares of company stock valued at $16,236,934. 17.90% of the stock is owned by corporate insiders.

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.