Tributary Capital Management LLC increased its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 35.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,600 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Tributary Capital Management LLC’s holdings in Mohawk Industries were worth $807,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of MHK. Amalgamated Bank grew its holdings in Mohawk Industries by 2.9% in the 2nd quarter. Amalgamated Bank now owns 8,025 shares of the company’s stock valued at $1,720,000 after buying an additional 225 shares in the last quarter. BerganKDV Wealth Management LLC lifted its stake in shares of Mohawk Industries by 6.5% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 4,061 shares of the company’s stock valued at $870,000 after purchasing an additional 247 shares during the last quarter. Federated Investors Inc. PA lifted its stake in shares of Mohawk Industries by 8.8% in the 2nd quarter. Federated Investors Inc. PA now owns 3,439 shares of the company’s stock valued at $737,000 after purchasing an additional 277 shares during the last quarter. Providence Capital Advisors LLC lifted its stake in shares of Mohawk Industries by 4.7% in the 2nd quarter. Providence Capital Advisors LLC now owns 6,502 shares of the company’s stock valued at $1,393,000 after purchasing an additional 289 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Mohawk Industries by 14.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,363 shares of the company’s stock worth $506,000 after acquiring an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.
Several equities analysts recently issued reports on the company. Raymond James lowered Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a research note on Friday, July 27th. Zacks Investment Research lowered Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Robert W. Baird reaffirmed a “buy” rating and issued a $212.00 price target on shares of Mohawk Industries in a research report on Friday, July 27th. Stifel Nicolaus reduced their price target on Mohawk Industries from $290.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Finally, JPMorgan Chase & Co. reduced their price target on Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating on the stock in a research report on Monday, October 29th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $175.06.
In other Mohawk Industries news, insider Brian Carson purchased 2,698 shares of Mohawk Industries stock in a transaction dated Monday, October 29th. The stock was acquired at an average cost of $116.34 per share, with a total value of $313,885.32. Following the acquisition, the insider now directly owns 21,135 shares of the company’s stock, valued at $2,458,845.90. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bernard Thiers sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the sale, the insider now directly owns 40,156 shares of the company’s stock, valued at $7,629,640. The disclosure for this sale can be found here. Insiders acquired a total of 262,698 shares of company stock worth $31,728,885 over the last quarter. Company insiders own 16.80% of the company’s stock.
NYSE:MHK traded down $1.58 during mid-day trading on Friday, reaching $125.65. 981,134 shares of the stock were exchanged, compared to its average volume of 2,080,274. The company has a market capitalization of $9.38 billion, a PE ratio of 9.23, a P/E/G ratio of 1.52 and a beta of 1.62. The company has a quick ratio of 0.79, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. Mohawk Industries, Inc. has a 1 year low of $113.45 and a 1 year high of $286.85.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 25th. The company reported $3.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.58 by ($0.29). The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Mohawk Industries had a return on equity of 13.49% and a net margin of 8.81%. As a group, sell-side analysts anticipate that Mohawk Industries, Inc. will post 12.46 EPS for the current fiscal year.
Mohawk Industries declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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Mohawk Industries Company Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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