Mohawk Industries, Inc. (MHK) Shares Bought by Suntrust Banks Inc.
Suntrust Banks Inc. boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,613 shares of the company’s stock after buying an additional 1 shares during the quarter. Suntrust Banks Inc.’s holdings in Mohawk Industries were worth $630,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of MHK. UBS Asset Management Americas Inc. grew its stake in Mohawk Industries by 7.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 176,151 shares of the company’s stock valued at $40,425,000 after buying an additional 12,139 shares during the last quarter. Pacer Advisors Inc. grew its stake in Mohawk Industries by 3.6% in the 1st quarter. Pacer Advisors Inc. now owns 1,266 shares of the company’s stock valued at $291,000 after buying an additional 44 shares during the last quarter. Stifel Financial Corp grew its stake in Mohawk Industries by 56.0% in the 1st quarter. Stifel Financial Corp now owns 9,078 shares of the company’s stock valued at $2,085,000 after buying an additional 3,257 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Mohawk Industries by 72.2% in the 1st quarter. Neuberger Berman Group LLC now owns 62,055 shares of the company’s stock valued at $14,241,000 after buying an additional 26,022 shares during the last quarter. Finally, AXA grew its stake in Mohawk Industries by 2.2% in the 1st quarter. AXA now owns 13,709 shares of the company’s stock valued at $3,146,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.
In related news, VP Rodney David Patton sold 137 shares of the company’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 transaction, the vice president now directly owns 6,924 shares in the company, valued at $1,708,704.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s 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 owns 21,396 shares in the company, valued at $5,454,910.20. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE:MHK) opened at 256.77 on Friday. The firm has a 50-day moving average of $251.74 and a 200 day moving average of $242.00. The firm’s market capitalization is $19.09 billion. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $259.91.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The business 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. Mohawk Industries’s revenue was up 6.2% compared to the same quarter last year. Analysts predict that Mohawk Industries, Inc. will post $13.50 EPS for the current year.
A number of research firms recently issued reports on MHK. Northcoast Research began coverage on shares of Mohawk Industries in a research note on Thursday. They issued a “buy” rating and a $295.00 target price on the stock. Instinet reiterated a “buy” rating and issued a $288.00 target price (up from $280.00) on shares of Mohawk Industries in a research note on Saturday, September 30th. Nomura reiterated a “buy” rating and issued a $288.00 target price (up from $280.00) on shares of Mohawk Industries in a research note on Thursday, September 28th. Cleveland Research lowered shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a research report on Friday, September 22nd. Finally, ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $270.33.
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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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