Cloverdale Capital Management LLC Has $17.27 Million Holdings in Mohawk Industries, Inc. (NYSE:MHK)
Cloverdale Capital Management LLC boosted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 19.1% in the 2nd quarter, Holdings Channel reports. The firm owned 117,122 shares of the company’s stock after acquiring an additional 18,772 shares during the quarter. Mohawk Industries accounts for approximately 11.9% of Cloverdale Capital Management LLC’s portfolio, making the stock its 4th largest position. Cloverdale Capital Management LLC’s holdings in Mohawk Industries were worth $17,272,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of MHK. Norinchukin Bank The raised its holdings in shares of Mohawk Industries by 0.7% during the 1st quarter. Norinchukin Bank The now owns 11,664 shares of the company’s stock valued at $1,471,000 after buying an additional 81 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Mohawk Industries by 0.3% during the second quarter. Retirement Systems of Alabama now owns 28,707 shares of the company’s stock valued at $4,233,000 after buying an additional 88 shares during the period. TD Asset Management Inc. increased its stake in shares of Mohawk Industries by 0.6% during the first quarter. TD Asset Management Inc. now owns 18,469 shares of the company’s stock valued at $2,330,000 after buying an additional 111 shares during the period. Commonwealth Bank of Australia increased its stake in shares of Mohawk Industries by 1.1% during the second quarter. Commonwealth Bank of Australia now owns 10,702 shares of the company’s stock valued at $1,573,000 after buying an additional 117 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Mohawk Industries by 0.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,883 shares of the company’s stock valued at $1,900,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 83.00% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 target price on the stock. in a research note on Thursday, August 1st. Loop Capital boosted their target price on Mohawk Industries to $145.00 and gave the company a “hold” rating in a research note on Friday, June 14th. National Securities assumed coverage on Mohawk Industries in a research note on Thursday, July 11th. They set a “buy” rating on the stock. Stifel Nicolaus set a $145.00 price target on Mohawk Industries and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Wells Fargo & Co upgraded Mohawk Industries from an “underperform” rating to a “market perform” rating and set a $115.00 price target on the stock in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Mohawk Industries currently has a consensus rating of “Hold” and a consensus target price of $141.41.
Mohawk Industries stock traded down $0.03 during mid-day trading on Thursday, reaching $122.91. 2,337 shares of the stock traded hands, compared to its average volume of 584,140. The stock has a market capitalization of $8.84 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 2.41 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.30 and a quick ratio of 0.66. Mohawk Industries, Inc. has a 12-month low of $108.93 and a 12-month high of $189.20. The business’s 50-day moving average is $118.00 and its 200-day moving average is $133.49.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.02. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Mohawk Industries had a return on equity of 10.50% and a net margin of 7.79%. Mohawk Industries’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.51 earnings per share. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.96 EPS for the current fiscal year.
About Mohawk Industries
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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