Covey Capital Advisors LLC maintained its stake in Mohawk Industries, Inc. (NYSE:MHK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,236 shares of the company’s stock at the close of the 2nd quarter. Mohawk Industries accounts for approximately 2.9% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. Covey Capital Advisors LLC’s holdings in Mohawk Industries were worth $2,716,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilbanks Smith & Thomas Asset Management LLC grew its position in Mohawk Industries by 0.7% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,519 shares of the company’s stock valued at $349,000 after buying an additional 11 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Mohawk Industries by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,693 shares of the company’s stock worth $1,134,000 after purchasing an additional 16 shares during the period. ING Groep NV boosted its position in shares of Mohawk Industries by 0.4% in the second quarter. ING Groep NV now owns 4,877 shares of the company’s stock worth $1,179,000 after purchasing an additional 19 shares during the period. Bellwether Investment Group LLC boosted its position in shares of Mohawk Industries by 1.8% in the second quarter. Bellwether Investment Group LLC now owns 1,366 shares of the company’s stock worth $330,000 after purchasing an additional 24 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after purchasing an additional 28 shares during the period. 76.97% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Credit Suisse Group assumed coverage on shares of Mohawk Industries in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 target price on the stock. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a research note on Tuesday, July 4th. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 target price on shares of Mohawk Industries in a research note on Monday, July 24th. Finally, MKM Partners restated a “buy” rating and issued a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Mohawk Industries has an average rating of “Buy” and an average price target of $266.64.
In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the sale, the chairman now owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Rodney David Patton sold 137 shares of the business’s stock in a transaction 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 in the company, valued at $1,708,704.72. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.
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Mohawk Industries, Inc. (MHK) traded up 0.014% during midday trading on Friday, reaching $253.795. 119,417 shares of the company were exchanged. The company’s market capitalization is $18.87 billion. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $259.91. The company has a 50 day moving average of $250.57 and a 200-day moving average of $239.52.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.60 by $0.12. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.47 EPS. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post $13.52 earnings per share for the current fiscal year.
About Mohawk Industries
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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