GLG Partners LP Purchases 16,708 Shares of Mohawk Industries, Inc. (MHK)
GLG Partners LP lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 46.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,631 shares of the company’s stock after buying an additional 16,708 shares during the quarter. GLG Partners LP owned approximately 0.07% of Mohawk Industries worth $12,721,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of MHK. BlackRock Inc. grew its holdings 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 in the last quarter. Harbour Capital Advisors LLC grew its holdings 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 in the last quarter. JPMorgan Chase & Co. grew 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 worth $1,215,567,000 after buying an additional 412,942 shares in the last quarter. Glenview Capital Management LLC purchased a new stake in shares of Mohawk Industries during the first quarter worth about $82,361,000. Finally, Wells Fargo & Company MN grew its holdings 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 in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.
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MHK has been the subject of a number of recent research reports. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 4th. BidaskClub downgraded shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 price target on shares of Mohawk Industries in a report on Monday, July 24th. Finally, MKM Partners reiterated a “buy” rating and set a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Mohawk Industries currently has a consensus rating of “Buy” and a consensus target price of $268.09.
In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the transaction, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $246.78, for a total value 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 disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.
Mohawk Industries, Inc. (NYSE MHK) traded down 0.23% during midday trading on Friday, reaching $247.51. 759,767 shares of the company were exchanged. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $259.91. The stock’s market capitalization is $18.40 billion. The firm’s 50-day moving average price is $251.35 and its 200 day moving average price is $240.22.
Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.12. The company had revenue of $2.45 billion for 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 quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.47 EPS. Equities analysts predict that Mohawk Industries, Inc. will post $13.51 earnings per share for the current year.
About Mohawk Industries
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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