Nomura Holdings Inc. Buys New Holdings in Mohawk Industries, Inc. (MHK)
Nomura Holdings Inc. bought a new position in Mohawk Industries, Inc. (NYSE:MHK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,219 shares of the company’s stock, valued at approximately $1,262,000.
A number of other institutional investors have also recently modified their holdings of MHK. Sun Life Financial INC raised its holdings in Mohawk Industries by 5,675.0% in the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after buying an additional 454 shares during the last quarter. First Personal Financial Services raised its holdings in Mohawk Industries by 6.6% in the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after buying an additional 35 shares during the last quarter. IFP Advisors Inc raised its holdings in Mohawk Industries by 18.6% in the second quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after buying an additional 98 shares during the last quarter. First Manhattan Co. purchased a new position in Mohawk Industries in the second quarter worth about $160,000. Finally, Meeder Asset Management Inc. purchased a new position in Mohawk Industries in the first quarter worth about $179,000. 76.91% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on the stock. ValuEngine raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Northcoast Research assumed coverage on shares of Mohawk Industries in a report on Thursday, October 5th. They issued a “buy” rating and a $295.00 target price for the company. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Cleveland Research cut shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Finally, MKM Partners reaffirmed a “buy” rating and issued a $286.00 target price (up from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $273.55.
Shares of Mohawk Industries, Inc. (MHK) opened at 258.58 on Tuesday. The stock has a 50 day moving average of $253.13 and a 200-day moving average of $243.21. Mohawk Industries, Inc. has a 52 week low of $175.52 and a 52 week high of $259.91. The company’s market capitalization is $19.22 billion.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data 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. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. Mohawk Industries’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $3.47 EPS. On average, analysts anticipate that Mohawk Industries, Inc. will post $13.50 EPS for the current year.
In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rodney David Patton sold 137 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the completion of 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.
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Mohawk Industries 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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