Eagle Asset Management Inc. cut its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,894 shares of the company’s stock after selling 60 shares during the quarter. Eagle Asset Management Inc.’s holdings in Mohawk Industries were worth $6,258,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Mohawk Industries by 5.6% during the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after acquiring an additional 28 shares during the period. First Personal Financial Services increased its holdings in Mohawk Industries by 6.6% during the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after buying an additional 35 shares during the period. First Manhattan Co. purchased a new position in Mohawk Industries during the second quarter valued at approximately $160,000. Meeder Asset Management Inc. purchased a new position in Mohawk Industries during the first quarter valued at approximately $179,000. Finally, Bridgewater Wealth & Financial Management LLC purchased a new position in Mohawk Industries during the second quarter valued at approximately $203,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.
In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the completion of the sale, the chairman now owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now directly owns 6,924 shares of the company’s stock, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE:MHK) opened at 245.67 on Friday. The stock’s market cap is $18.26 billion. Mohawk Industries, Inc. has a 1-year low of $175.52 and a 1-year high of $259.91. The stock’s 50 day moving average is $251.35 and its 200-day moving average is $240.22.
Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the company earned $3.47 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Mohawk Industries, Inc. will post $13.51 EPS for the current fiscal year.
Several brokerages have weighed in on MHK. Cleveland Research downgraded shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a research note on Friday. BidaskClub downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Zacks Investment Research downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. MKM Partners reiterated a “buy” rating and set a $286.00 price objective (up from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $291.00 price objective on shares of Mohawk Industries in a research note on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $266.64.
Mohawk Industries Company Profile
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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