HighTower Advisors LLC Sells 563 Shares of Mohawk Industries, Inc. (MHK)
HighTower Advisors LLC cut its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,982 shares of the company’s stock after selling 563 shares during the period. HighTower Advisors LLC’s holdings in Mohawk Industries were worth $5,070,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in shares of Mohawk Industries by 0.7% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,519 shares of the company’s stock valued at $349,000 after purchasing an additional 11 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Mohawk Industries by 0.7% in the second quarter. Riverhead Capital Management LLC now owns 2,035 shares of the company’s stock worth $492,000 after buying an additional 15 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Mohawk Industries by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,693 shares of the company’s stock worth $1,134,000 after buying an additional 16 shares during the period. ING Groep NV boosted its holdings in shares of Mohawk Industries by 0.4% in the second quarter. ING Groep NV now owns 4,877 shares of the company’s stock worth $1,179,000 after buying an additional 19 shares during the period. Finally, Bellwether Investment Group LLC boosted its holdings in shares of Mohawk Industries by 1.8% in the second quarter. Bellwether Investment Group LLC now owns 1,366 shares of the company’s stock worth $330,000 after buying an additional 24 shares during the period. 76.93% of the stock is currently owned by institutional investors.
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Shares of Mohawk Industries, Inc. (MHK) traded up 0.25% on Tuesday, reaching $249.67. The company had a trading volume of 35,865 shares. The company’s 50-day moving average price is $251.08 and its 200-day moving average price is $241.45. The firm’s market capitalization is $18.56 billion. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $259.91.
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 the Zacks’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the business posted $3.47 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Mohawk Industries, Inc. will post $13.51 earnings per share for the current year.
In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the stock in a transaction on 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 completion of the transaction, the chairman now directly 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 can be accessed through this hyperlink. Also, VP Rodney David Patton sold 137 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now directly owns 6,924 shares in the company, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
A number of equities analysts recently commented on MHK shares. ValuEngine raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. BidaskClub lowered Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective for the company in a research note on Tuesday, July 4th. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 price objective on shares of Mohawk Industries in a research note on Monday, July 24th. Finally, MKM Partners restated a “buy” rating and set a $286.00 price objective (up from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $268.09.
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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