Balyasny Asset Management LLC Boosts Stake in Mohawk Industries, Inc. (MHK)
Balyasny Asset Management LLC lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3,881.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 135,285 shares of the company’s stock after buying an additional 131,887 shares during the period. Balyasny Asset Management LLC owned approximately 0.18% of Mohawk Industries worth $32,697,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of MHK. BlackRock Inc. lifted its stake in shares of Mohawk Industries by 3,286.0% during the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock worth $992,431,000 after buying an additional 4,196,790 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Mohawk Industries by 23,742.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,006,397 shares of the company’s stock worth $4,164,000 after buying an additional 1,002,176 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Mohawk Industries by 8.9% during the second quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock worth $1,215,567,000 after buying an additional 412,942 shares during the period. Glenview Capital Management LLC acquired a new stake in shares of Mohawk Industries during the first quarter worth $82,361,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Mohawk Industries by 143.5% during the second quarter. Wells Fargo & Company MN now owns 596,358 shares of the company’s stock worth $144,133,000 after buying an additional 351,457 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.
In other Mohawk Industries news, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction 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 owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.
MHK has been the subject of several research reports. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. BidaskClub upgraded shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price for the company in a report on Tuesday, July 4th. Cleveland Research cut shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Finally, Credit Suisse Group initiated coverage on shares of Mohawk Industries in a report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 target price for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $267.36.
Shares of Mohawk Industries, Inc. (NYSE MHK) traded down 0.23% on Friday, hitting $247.51. 759,767 shares of the company traded hands. Mohawk Industries, Inc. has a 12 month low of $175.52 and a 12 month high of $259.91. The stock’s 50-day moving average price is $251.35 and its 200-day moving average price is $240.22. The company’s market capitalization is $18.40 billion.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.60 by $0.12. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. Mohawk Industries’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.47 EPS. On average, equities analysts predict that Mohawk Industries, Inc. will post $13.51 earnings per share for the current year.
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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