BTC Capital Management Inc. Decreases Stake in Mohawk Industries, Inc. (MHK)
BTC Capital Management Inc. trimmed its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 22.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 986 shares of the company’s stock after selling 279 shares during the period. BTC Capital Management Inc.’s holdings in Mohawk Industries were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Mohawk Industries by 3.3% during the second quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock valued at $1,494,654,000 after purchasing an additional 196,996 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 valued at $1,215,567,000 after purchasing an additional 412,942 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Mohawk Industries by 5.8% during the second quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock valued at $1,105,842,000 after purchasing an additional 250,944 shares during the last quarter. FMR LLC raised its holdings in shares of Mohawk Industries by 3.9% during the second quarter. FMR LLC now owns 2,796,757 shares of the company’s stock valued at $675,948,000 after purchasing an additional 105,920 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Mohawk Industries by 0.3% during the second quarter. Principal Financial Group Inc. now owns 1,211,095 shares of the company’s stock valued at $292,710,000 after purchasing an additional 4,001 shares during the last quarter. 76.19% of the stock is owned by hedge funds and other institutional investors.
Mohawk Industries, Inc. (MHK) traded up $1.17 during midday trading on Tuesday, reaching $265.02. 354,400 shares of the company’s stock were exchanged, compared to its average volume of 487,781. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. The stock has a market cap of $19,609.34, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 2.39 and a beta of 1.35. Mohawk Industries, Inc. has a 1-year low of $189.44 and a 1-year high of $268.46.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.01. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $3.50 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. equities research analysts expect that Mohawk Industries, Inc. will post 13.52 earnings per share for the current year.
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In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the sale, the chairman now directly owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.00% of the stock is currently owned by company insiders.
A number of brokerages have commented on MHK. Barclays PLC upped their target price on shares of Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a report on Monday, October 30th. J P Morgan Chase & Co upped their target price on shares of Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $300.00 target price (up from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a report on Sunday, October 29th. Finally, Nomura set a $300.00 price target on shares of Mohawk Industries and gave the stock a “buy” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Mohawk Industries has a consensus rating of “Buy” and a consensus target price of $279.15.
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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