Mohawk Industries, Inc. (MHK) Holdings Reduced by Axiom International Investors LLC DE
Axiom International Investors LLC DE lowered its position in Mohawk Industries, Inc. (NYSE:MHK) by 12.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 232,370 shares of the company’s stock after selling 32,750 shares during the quarter. Mohawk Industries makes up about 1.3% of Axiom International Investors LLC DE’s investment portfolio, making the stock its 27th largest holding. Axiom International Investors LLC DE owned 0.31% of Mohawk Industries worth $57,514,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in MHK. Harbour Capital Advisors LLC lifted its stake in Mohawk Industries by 23,742.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,006,397 shares of the company’s stock valued at $4,164,000 after acquiring an additional 1,002,176 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock valued at $1,215,567,000 after acquiring an additional 412,942 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Mohawk Industries by 143.5% in the second quarter. Wells Fargo & Company MN now owns 596,358 shares of the company’s stock valued at $144,133,000 after acquiring an additional 351,457 shares during the last quarter. BlackRock Inc. lifted its stake in Mohawk Industries by 5.8% in the second quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock valued at $1,105,842,000 after acquiring an additional 250,944 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in Mohawk Industries in the second quarter valued at $53,508,000. Hedge funds and other institutional investors own 76.74% of the company’s stock.
In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction dated Tuesday, September 5th. The shares were 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 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. 17.00% of the stock is owned by insiders.
Shares of Mohawk Industries, Inc. (NYSE MHK) traded up $1.54 during trading on Monday, reaching $275.55. 146,200 shares of the company’s stock traded hands, compared to its average volume of 484,300. Mohawk Industries, Inc. has a twelve month low of $189.44 and a twelve month high of $279.85. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. The firm has a market cap of $20,480.00, a PE ratio of 20.49, a price-to-earnings-growth ratio of 2.49 and a beta of 1.35.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.01. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the company earned $3.50 EPS. The business’s revenue was up 6.7% on a year-over-year basis. equities analysts forecast that Mohawk Industries, Inc. will post 13.52 EPS for the current year.
A number of analysts have recently issued reports on the stock. BidaskClub cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Zacks Investment Research cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. SunTrust Banks, Inc. restated a “buy” rating and set a $275.00 target price on shares of Mohawk Industries in a research note on Friday, October 27th. Instinet restated a “buy” rating and set a $288.00 target price (up previously from $280.00) on shares of Mohawk Industries in a research note on Saturday, September 30th. Finally, J P Morgan Chase & Co raised their target price on shares of Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $281.42.
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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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