Wedge Capital Management L L P NC Has $33.92 Million Position in Mohawk Industries, Inc. (MHK)
Wedge Capital Management L L P NC cut its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 42.8% during the second quarter, Holdings Channel reports. The institutional investor owned 140,348 shares of the company’s stock after selling 104,928 shares during the period. Wedge Capital Management L L P NC’s holdings in Mohawk Industries were worth $33,921,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. National Pension Service boosted its stake in Mohawk Industries by 5.4% in the first quarter. National Pension Service now owns 59,074 shares of the company’s stock worth $13,523,000 after buying an additional 3,037 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Mohawk Industries by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,663 shares of the company’s stock worth $357,000 after buying an additional 49 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Mohawk Industries during the first quarter worth $1,278,000. Bank of Nova Scotia boosted its stake in Mohawk Industries by 23.2% in the first quarter. Bank of Nova Scotia now owns 21,824 shares of the company’s stock worth $5,009,000 after buying an additional 4,108 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in Mohawk Industries during the first quarter worth $276,000. Institutional investors own 76.31% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE MHK) opened at 245.43 on Friday. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $252.89. The stock’s 50 day moving average price is $245.96 and its 200-day moving average price is $234.13. The firm’s market cap is $18.24 billion.
Mohawk Industries (NYSE:MHK) last issued its 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. The business had revenue of $2.45 billion for 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%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.47 EPS. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post $13.53 earnings per share for the current fiscal year.
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MHK has been the topic of a number of analyst reports. BidaskClub cut Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and issued a $267.00 price target on shares of Mohawk Industries in a research note on Monday, May 1st. MKM Partners restated a “buy” rating and issued a $255.00 price target on shares of Mohawk Industries in a research note on Tuesday, April 18th. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target on the stock in a research note on Tuesday, July 4th. Finally, Instinet restated a “buy” rating and issued a $280.00 price target on shares of Mohawk Industries in a research note on Friday, April 14th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $266.64.
In other news, insider Suzanne L. Helen sold 6,200 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $240.62, for a total value of $1,491,844.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rodney David Patton sold 387 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $242.00, for a total transaction of $93,654.00. Following the completion of the sale, the vice president now owns 7,061 shares in the company, valued at approximately $1,708,762. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,587 shares of company stock worth $1,823,768. Company insiders own 17.10% 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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