BlackRock Inc. lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,046,157 shares of the company’s stock after purchasing an additional 477,056 shares during the period. BlackRock Inc. owned about 6.79% of Mohawk Industries worth $1,392,234,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. NuWave Investment Management LLC acquired a new position in Mohawk Industries in the fourth quarter valued at approximately $117,000. Cerebellum GP LLC purchased a new stake in shares of Mohawk Industries during the fourth quarter worth $124,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Mohawk Industries during the fourth quarter worth $124,000. Calton & Associates Inc. purchased a new stake in shares of Mohawk Industries during the fourth quarter worth $171,000. Finally, Daiwa SB Investments Ltd. purchased a new stake in shares of Mohawk Industries during the fourth quarter worth $199,000. Hedge funds and other institutional investors own 78.68% of the company’s stock.
Mohawk Industries, Inc. (NYSE MHK) traded down $1.70 on Wednesday, hitting $248.89. 487,445 shares of the stock traded hands, compared to its average volume of 745,937. The company has a market cap of $18,452.30, a P/E ratio of 19.17, a P/E/G ratio of 1.74 and a beta of 1.37. Mohawk Industries, Inc. has a one year low of $223.84 and a one year high of $286.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 8th. The company reported $3.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.32 by $0.10. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $3.26 EPS. The company’s revenue was up 8.5% on a year-over-year basis. sell-side analysts expect that Mohawk Industries, Inc. will post 15.66 earnings per share for the current year.
In other news, Director William Henry Runge III bought 500 shares of Mohawk Industries stock in a transaction on Wednesday, February 14th. The stock was purchased at an average cost of $250.87 per share, with a total value of $125,435.00. Following the purchase, the director now directly owns 2,335 shares of the company’s stock, valued at approximately $585,781.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard Thiers sold 17,383 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $250.00, for a total transaction of $4,345,750.00. Following the transaction, the insider now directly owns 50,003 shares of the company’s stock, valued at $12,500,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,207 shares of company stock valued at $8,258,780. Insiders own 17.00% of the company’s stock.
Several research firms recently commented on MHK. Jefferies Group began coverage on Mohawk Industries in a report on Tuesday, December 12th. They issued a “buy” rating and a $330.00 target price on the stock. Credit Suisse Group reiterated an “outperform” rating and set a $310.00 target price (up previously from $303.00) on shares of Mohawk Industries in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 target price for the company in a research note on Friday, January 19th. ValuEngine downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Loop Capital started coverage on shares of Mohawk Industries in a report on Thursday, March 1st. They issued a “hold” rating and a $261.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $293.07.
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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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