Mohawk Industries, Inc. (MHK) is Weik Investment Services Inc.’s 3rd Largest Position
Weik Investment Services Inc. trimmed its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,363 shares of the company’s stock after selling 817 shares during the period. Mohawk Industries comprises about 4.5% of Weik Investment Services Inc.’s holdings, making the stock its 3rd largest position. Weik Investment Services Inc.’s holdings in Mohawk Industries were worth $8,547,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in MHK. BlackRock Inc. boosted its position 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 valued at $992,431,000 after buying an additional 4,196,790 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in 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 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 bought a new stake in Mohawk Industries during the first quarter worth $82,361,000. Finally, Wells Fargo & Company MN grew its holdings in 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. 76.93% of the stock is currently owned by hedge funds and other institutional investors.
In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the completion of the sale, the chairman now directly owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Rodney David Patton sold 137 shares of the business’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 sale, the vice president now owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
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Mohawk Industries, Inc. (NYSE:MHK) traded up 0.89% during trading on Monday, reaching $249.72. 202,639 shares of the company traded hands. Mohawk Industries, Inc. has a 52 week low of $175.52 and a 52 week high of $259.91. The company’s 50-day moving average price is $251.35 and its 200 day moving average price is $240.22. The firm’s market capitalization is $18.56 billion.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted $3.47 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Mohawk Industries, Inc. will post $13.51 EPS for the current year.
MHK has been the topic of several recent analyst reports. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. BidaskClub upgraded shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Cleveland Research lowered shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a research note on Friday, September 22nd. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price for the company in a report on Tuesday, July 4th. Finally, Credit Suisse Group initiated coverage on shares of Mohawk Industries in a report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Mohawk Industries currently has an average rating of “Buy” and a consensus target price of $268.09.
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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