Mohawk Industries, Inc. (MHK) Position Boosted by Raymond James Trust N.A.
Raymond James Trust N.A. boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 10.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,324 shares of the company’s stock after buying an additional 124 shares during the period. Raymond James Trust N.A.’s holdings in Mohawk Industries were worth $320,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. First Personal Financial Services raised its holdings in shares of Mohawk Industries by 6.6% during the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after purchasing an additional 35 shares during the period. IFP Advisors Inc raised its holdings in shares of Mohawk Industries by 18.6% during the second quarter. IFP Advisors Inc now owns 625 shares of the company’s stock valued at $151,000 after purchasing an additional 98 shares during the period. First Manhattan Co. acquired a new position in shares of Mohawk Industries during the second quarter valued at about $160,000. Meeder Asset Management Inc. acquired a new position in shares of Mohawk Industries during the first quarter valued at about $179,000. Finally, Bahl & Gaynor Inc. acquired a new position in shares of Mohawk Industries during the first quarter valued at about $202,000. Institutional investors and hedge funds own 76.93% of the company’s stock.
Several equities analysts have recently weighed in on MHK shares. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective on the stock in a report on Tuesday, July 4th. BidaskClub lowered 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 objective on shares of Mohawk Industries in a report on Monday, July 24th. MKM Partners reiterated a “buy” rating and set a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $266.64.
Shares of Mohawk Industries, Inc. (MHK) opened at 254.34 on Tuesday. Mohawk Industries, Inc. has a 12-month low of $175.52 and a 12-month high of $259.91. The firm’s market cap is $18.91 billion. The company has a 50 day moving average of $251.20 and a 200-day moving average of $240.04.
Mohawk Industries (NYSE:MHK) last issued 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 net margin of 10.54% and a return on equity of 16.45%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the company posted $3.47 EPS. Mohawk Industries’s revenue was up 6.2% on a year-over-year basis. Analysts predict 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 Mohawk Industries stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the completion of the transaction, 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 filing with the SEC, which is available at this hyperlink. Also, VP Rodney David Patton sold 137 shares of Mohawk Industries stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the transaction, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
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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