19,500 Shares in Mohawk Industries, Inc. (MHK) Purchased by Caxton Associates LP
Caxton Associates LP purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 19,500 shares of the company’s stock, valued at approximately $4,826,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Mohawk Industries by 8.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock valued at $1,215,567,000 after purchasing an additional 412,942 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Mohawk Industries by 143.5% in the 2nd quarter. Wells Fargo & Company MN now owns 596,358 shares of the company’s stock valued at $144,133,000 after acquiring an additional 351,457 shares during the last quarter. BlackRock Inc. grew its stake in Mohawk Industries by 5.8% during the 2nd quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock worth $1,105,842,000 after buying an additional 250,944 shares during the last quarter. American Century Companies Inc. bought a new position in Mohawk Industries during the 2nd quarter worth $53,508,000. Finally, Vanguard Group Inc. grew its stake in shares of Mohawk Industries by 3.3% in the second quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock worth $1,494,654,000 after purchasing an additional 196,996 shares in the last quarter. 76.59% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on MHK shares. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Cleveland Research lowered Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Nomura restated a “buy” rating and issued a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a report on Thursday, September 28th. Instinet reaffirmed a “buy” rating and set a $288.00 target price (up from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th. Finally, Northcoast Research assumed coverage on Mohawk Industries in a research report on Thursday, October 5th. They set a “buy” rating and a $295.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Mohawk Industries currently has an average rating of “Buy” and a consensus target price of $281.42.
Mohawk Industries, Inc. (NYSE MHK) opened at $280.57 on Friday. Mohawk Industries, Inc. has a 12-month low of $196.50 and a 12-month high of $286.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. The stock has a market capitalization of $20,833.39, a price-to-earnings ratio of 20.84, a PEG ratio of 2.54 and a beta of 1.37.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.74 by $0.01. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $3.50 EPS. research analysts anticipate that Mohawk Industries, Inc. will post 13.52 earnings per share for the current fiscal year.
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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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