Mohawk Industries, Inc. (MHK) Position Raised by ING Groep NV
ING Groep NV grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 40.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,862 shares of the company’s stock after acquiring an additional 1,985 shares during the period. ING Groep NV’s holdings in Mohawk Industries were worth $1,698,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in shares of Mohawk Industries by 399.2% during the 2nd quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock valued at $8,312,000 after acquiring an additional 27,503 shares during the period. Aviva PLC lifted its position in shares of Mohawk Industries by 1.1% during the 2nd quarter. Aviva PLC now owns 38,875 shares of the company’s stock valued at $9,396,000 after acquiring an additional 410 shares during the period. Utah Retirement Systems lifted its position in shares of Mohawk Industries by 0.9% during the 2nd quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock valued at $2,754,000 after acquiring an additional 100 shares during the period. American Century Companies Inc. acquired a new stake in shares of Mohawk Industries during the 2nd quarter valued at approximately $53,508,000. Finally, Swiss National Bank raised its position in shares of Mohawk Industries by 3.2% during the 2nd quarter. Swiss National Bank now owns 230,474 shares of the company’s stock worth $55,703,000 after purchasing an additional 7,100 shares during the last quarter. Institutional investors own 76.74% of the company’s stock.
Several brokerages recently issued reports on MHK. 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. BidaskClub downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Northcoast Research began coverage on Mohawk Industries in a research report on Thursday, October 5th. They set a “buy” rating and a $295.00 price objective for the company. Instinet restated a “buy” rating and set a $288.00 price objective (up from $280.00) on shares of Mohawk Industries in a research report on Saturday, September 30th. Finally, Barclays PLC lifted 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $281.42.
Shares of Mohawk Industries, Inc. (NYSE MHK) traded up $1.54 during trading on Friday, hitting $275.55. The company had a trading volume of 146,216 shares, compared to its average volume of 434,143. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. Mohawk Industries, Inc. has a 1 year low of $189.44 and a 1 year high of $279.85. The firm has a market cap of $20,364.43, a P/E ratio of 20.37, a P/E/G ratio of 2.48 and a beta of 1.35.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 10.37% and a return on equity of 16.03%. Mohawk Industries’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.50 EPS. equities research analysts expect that Mohawk Industries, Inc. will post 13.52 earnings per share for the current fiscal year.
In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction that occurred on 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 directly owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.00% of the stock is currently owned by insiders.
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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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