Mohawk Industries, Inc. (MHK) Shares Sold by Huntington National Bank
Huntington National Bank reduced its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.9% during the first quarter, Holdings Channel reports. The fund owned 14,733 shares of the company’s stock after selling 127 shares during the period. Huntington National Bank’s holdings in Mohawk Industries were worth $3,381,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MHK. Columbus Circle Investors raised its position in Mohawk Industries by 196.8% in the first quarter. Columbus Circle Investors now owns 160,203 shares of the company’s stock valued at $36,765,000 after buying an additional 106,219 shares during the period. Boston Advisors LLC raised its position in Mohawk Industries by 13.1% in the first quarter. Boston Advisors LLC now owns 68,975 shares of the company’s stock valued at $15,829,000 after buying an additional 7,985 shares during the period. Patten & Patten Inc. TN raised its position in Mohawk Industries by 15.3% in the first quarter. Patten & Patten Inc. TN now owns 8,598 shares of the company’s stock valued at $1,973,000 after buying an additional 1,140 shares during the period. Washington Trust Bank raised its position in Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock valued at $110,000 after buying an additional 215 shares during the period. Finally, Atria Investments LLC bought a new position in Mohawk Industries during the first quarter valued at approximately $255,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded up 0.88% during mid-day trading on Thursday, reaching $236.29. The company had a trading volume of 447,706 shares. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $237.58. The company’s market capitalization is $17.53 billion. The company’s 50-day moving average price is $229.58 and its 200-day moving average price is $209.87.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 9th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.04. Mohawk Industries had a net margin of 10.39% and a return on equity of 17.10%. The firm earned $2.20 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the business posted $2.82 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts forecast that Mohawk Industries, Inc. will post $13.28 earnings per share for the current fiscal year.
Several research analysts have commented on MHK shares. Zacks Investment Research lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 11th. Instinet reissued a “buy” rating and issued a $280.00 price objective on shares of Mohawk Industries in a research report on Friday, April 14th. MKM Partners reissued a “buy” rating and issued a $255.00 price objective on shares of Mohawk Industries in a research report on Tuesday. Barclays PLC raised their price objective on Mohawk Industries from $251.00 to $272.00 and gave the company an “overweight” rating in a research report on Monday, March 20th. Finally, Stifel Nicolaus raised their price objective on Mohawk Industries from $230.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, February 13th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $247.82.
In related news, Chairman Jeffrey S. Lorberbaum sold 20,000 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $222.91, for a total value of $4,458,200.00. Following the completion of the transaction, the chairman now owns 36,659 shares of the company’s stock, valued at $8,171,657.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard Thiers sold 4,000 shares of the stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $231.78, for a total transaction of $927,120.00. Following the completion of the transaction, the insider now directly owns 70,003 shares of the company’s stock, valued at approximately $16,225,295.34. The disclosure for this sale can be found here. Insiders sold 57,440 shares of company stock valued at $13,049,918 in the last three months. Company insiders own 17.10% of the company’s stock.
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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