Legal & General Group Plc Has $79.50 Million Position in Mohawk Industries, Inc. (MHK)
Legal & General Group Plc increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,211 shares of the company’s stock after purchasing an additional 16,811 shares during the quarter. Legal & General Group Plc owned 0.43% of Mohawk Industries worth $79,502,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sun Life Financial INC boosted its position in shares of Mohawk Industries by 5,675.0% during the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after acquiring an additional 454 shares in the last quarter. First Personal Financial Services boosted its position in shares of Mohawk Industries by 6.6% during the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after acquiring an additional 35 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Mohawk Industries by 18.6% during the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after acquiring an additional 98 shares in the last quarter. First Manhattan Co. acquired a new position in shares of Mohawk Industries during the 2nd quarter worth about $160,000. Finally, Bridgewater Wealth & Financial Management LLC acquired a new position in shares of Mohawk Industries during the 2nd quarter worth about $203,000. 76.51% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Barclays upped their price objective on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. J P Morgan Chase & Co upped their price objective on Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $300.00 price objective (up from $291.00) on shares of Mohawk Industries in a research report on Monday, October 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $270.00 price objective on shares of Mohawk Industries in a research report on Sunday, October 29th. Finally, Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $281.42.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded up $2.21 during midday trading on Friday, hitting $284.82. The company had a trading volume of 653,556 shares, compared to its average volume of 369,003. The firm has a market cap of $21,167.82, a PE ratio of 21.18, a PEG ratio of 2.58 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23. Mohawk Industries, Inc. has a 1 year low of $189.44 and a 1 year high of $286.29.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.01. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.50 EPS. research analysts forecast that Mohawk Industries, Inc. will post 13.52 EPS for the current year.
In related 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 completion of the sale, the chairman now directly owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.00% of the stock is owned by corporate insiders.
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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