Mohawk Industries, Inc. (MHK) Reaches New 1-Year High at $259.92
Shares of Mohawk Industries, Inc. (NYSE:MHK) reached a new 52-week high on Wednesday . The stock traded as high as $259.92 and last traded at $260.06, with a volume of 143,178 shares. The stock had previously closed at $258.73.
MHK has been the subject of several research reports. Credit Suisse Group initiated coverage on Mohawk Industries in a report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price target for the company. BidaskClub cut Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 4th. Royal Bank Of Canada reissued a “buy” rating and set a $267.00 price target on shares of Mohawk Industries in a report on Monday, July 24th. Finally, MKM Partners reissued a “buy” rating and set a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $273.55.
The company’s market capitalization is $19.33 billion. The firm’s 50-day moving average is $253.13 and its 200 day moving average is $243.21.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.12. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.47 earnings per share. Equities analysts anticipate that Mohawk Industries, Inc. will post $13.49 earnings per share for the current fiscal year.
In other Mohawk Industries news, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $246.78, for a total transaction of $33,808.86. Following the sale, the vice president now owns 6,924 shares in the company, valued at $1,708,704.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the stock in a transaction on 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 sale, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Large investors have recently bought and sold shares of the business. Teachers Advisors LLC raised its position in shares of Mohawk Industries by 2.5% in the first quarter. Teachers Advisors LLC now owns 383,191 shares of the company’s stock worth $87,939,000 after buying an additional 9,230 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Mohawk Industries by 37.1% in the first quarter. Global X Management Co. LLC now owns 1,363 shares of the company’s stock worth $313,000 after buying an additional 369 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Mohawk Industries in the first quarter worth $179,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Mohawk Industries in the first quarter worth $908,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Mohawk Industries in the first quarter worth $908,000. Hedge funds and other institutional investors own 76.91% of the company’s stock.
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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