First Manhattan Co. Takes Position in Mohawk Industries, Inc. (NYSE:MHK)
First Manhattan Co. bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, according to its most recent filing with the SEC. The firm bought 664 shares of the company’s stock, valued at approximately $160,000.
A number of other hedge funds have also bought and sold shares of the stock. Washington Trust Bank raised its position in Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock worth $110,000 after buying an additional 215 shares in the last quarter. IFP Advisors Inc raised its position in Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Mohawk Industries during the first quarter worth approximately $179,000. Bahl & Gaynor Inc. purchased a new position in Mohawk Industries during the first quarter worth approximately $202,000. Finally, IBM Retirement Fund raised its position in Mohawk Industries by 34.7% in the second quarter. IBM Retirement Fund now owns 924 shares of the company’s stock worth $223,000 after buying an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 76.31% of the company’s stock.
Mohawk Industries, Inc. (NYSE MHK) opened at 245.43 on Friday. Mohawk Industries, Inc. has a 12 month low of $175.52 and a 12 month high of $252.89. The company’s market cap is $18.24 billion. The company’s 50-day moving average is $245.96 and its 200-day moving average is $234.13.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 27th. The company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 EPS. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post $13.53 earnings per share for the current year.
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A number of research firms have recently commented on MHK. BidaskClub lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. MKM Partners reissued a “buy” rating and issued a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. Stifel Nicolaus lifted their price target on shares of Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Zacks Investment Research lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 price target on shares of Mohawk Industries in a research report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $266.64.
In other Mohawk Industries news, Director Cock Frans Georges De sold 1,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the completion of the sale, the director now owns 13,016 shares of the company’s stock, valued at approximately $3,101,322.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzanne L. Helen sold 6,200 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $240.62, for a total value of $1,491,844.00. The disclosure for this sale can be found here. In the last three months, insiders sold 7,587 shares of company stock valued at $1,823,768. 17.10% of the stock is currently owned by insiders.
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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