Mohawk Industries, Inc. (MHK) Stake Lowered by Nicholas Investment Partners LP
Nicholas Investment Partners LP lowered its position in Mohawk Industries, Inc. (NYSE:MHK) by 4.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,752 shares of the company’s stock after selling 767 shares during the period. Nicholas Investment Partners LP’s holdings in Mohawk Industries were worth $2,946,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Mohawk Industries by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,614 shares of the company’s stock worth $722,000 after buying an additional 14 shares in the last quarter. Gateway Investment Advisers LLC raised its position in shares of Mohawk Industries by 0.5% in the third quarter. Gateway Investment Advisers LLC now owns 5,301 shares of the company’s stock worth $1,062,000 after buying an additional 24 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Mohawk Industries by 1.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 1,614 shares of the company’s stock worth $323,000 after buying an additional 27 shares in the last quarter. Norinchukin Bank The raised its position in shares of Mohawk Industries by 0.9% in the third quarter. Norinchukin Bank The now owns 3,373 shares of the company’s stock worth $676,000 after buying an additional 30 shares in the last quarter. Finally, Calvert Investment Management Inc. raised its position in shares of Mohawk Industries by 0.9% in the second quarter. Calvert Investment Management Inc. now owns 3,798 shares of the company’s stock worth $721,000 after buying an additional 35 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded down 0.69% during mid-day trading on Friday, hitting $220.25. The stock had a trading volume of 90,222 shares. The stock has a 50-day moving average price of $210.92 and a 200 day moving average price of $203.80. Mohawk Industries, Inc. has a 52 week low of $161.31 and a 52 week high of $225.53. The stock’s market cap is $16.33 billion.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 9th. The company reported $3.26 earnings per share for the quarter, topping the 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 had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the company posted $2.82 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts forecast that Mohawk Industries, Inc. will post $13.26 EPS for the current fiscal year.
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A number of brokerages have weighed in on MHK. Macquarie began coverage on Mohawk Industries in a research note on Friday, December 16th. They set an “outperform” rating and a $235.00 price target on the stock. Stifel Nicolaus increased their price target on Mohawk Industries from $230.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday. Barclays PLC set a $251.00 price target on Mohawk Industries and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research raised Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Evercore ISI began coverage on Mohawk Industries in a research note on Monday, November 14th. They set a “buy” rating and a $252.00 price target on the stock. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $234.92.
In related news, Chairman Jeffrey S. Lorberbaum sold 20,000 shares of Mohawk Industries stock in a transaction on 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 sale, the chairman now owns 36,659 shares of the company’s stock, valued at approximately $8,171,657.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cock Frans Georges De acquired 3,750 shares of Mohawk Industries stock in a transaction that occurred on Monday, November 28th. The stock was acquired at an average cost of $200.00 per share, with a total value of $750,000.00. Following the purchase, the director now owns 10,016 shares in the company, valued at approximately $2,003,200. The disclosure for this purchase can be found here. 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’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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