Advisor Group Inc. Has $484,000 Stake in Mohawk Industries, Inc. (MHK)
Advisor Group Inc. cut its position in Mohawk Industries, Inc. (NYSE:MHK) by 67.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,007 shares of the company’s stock after selling 4,189 shares during the quarter. Advisor Group Inc.’s holdings in Mohawk Industries were worth $484,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Aviva PLC grew its holdings in shares of Mohawk Industries by 1.1% during the 2nd quarter. Aviva PLC now owns 38,875 shares of the company’s stock valued at $9,396,000 after purchasing an additional 410 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Mohawk Industries during the 1st quarter valued at approximately $1,278,000. American Century Companies Inc. bought a new stake in shares of Mohawk Industries during the 2nd quarter valued at approximately $53,508,000. Utah Retirement Systems grew its holdings in shares of Mohawk Industries by 0.9% during the 2nd quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock valued at $2,754,000 after purchasing an additional 100 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Mohawk Industries by 3.2% during the 2nd quarter. Swiss National Bank now owns 230,474 shares of the company’s stock valued at $55,703,000 after purchasing an additional 7,100 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.
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Several brokerages recently issued reports on MHK. Northcoast Research began coverage on shares of Mohawk Industries in a report on Thursday. They set a “buy” rating and a $295.00 price target on the stock. Instinet reaffirmed a “buy” rating and set a $288.00 price target (up from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th. Nomura reaffirmed a “buy” rating and set a $288.00 price target (up from $280.00) on shares of Mohawk Industries in a report on Thursday, September 28th. Cleveland Research lowered shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Finally, ValuEngine raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $270.33.
Shares of Mohawk Industries, Inc. (MHK) opened at 256.77 on Friday. The firm’s 50-day moving average is $251.74 and its 200-day moving average is $242.00. The company’s market capitalization is $19.09 billion. Mohawk Industries, Inc. has a 12-month low of $175.52 and a 12-month high of $259.91.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.60 by $0.12. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $3.47 earnings per share. On average, equities analysts predict that Mohawk Industries, Inc. will post $13.50 EPS for the current year.
In other Mohawk Industries news, VP Rodney David Patton sold 137 shares of Mohawk Industries stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the transaction, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries 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 transaction, the chairman now directly owns 21,396 shares in the company, valued at $5,454,910.20. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
Mohawk Industries 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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