Hahn Capital Management LLC lowered its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227,452 shares of the company’s stock after selling 12,775 shares during the period. Mohawk Industries comprises approximately 4.2% of Hahn Capital Management LLC’s holdings, making the stock its 5th largest position. Hahn Capital Management LLC’s holdings in Mohawk Industries were worth $41,919,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. PCJ Investment Counsel Ltd. boosted its stake in Mohawk Industries by 40.0% in the third quarter. PCJ Investment Counsel Ltd. now owns 7,000 shares of the company’s stock worth $1,402,000 after buying an additional 2,000 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in Mohawk Industries by 1,415.3% in the third quarter. Picton Mahoney Asset Management now owns 25,760 shares of the company’s stock worth $5,161,000 after buying an additional 24,060 shares during the last quarter. SRB Corp boosted its stake in Mohawk Industries by 5.5% in the third quarter. SRB Corp now owns 743 shares of the company’s stock worth $149,000 after buying an additional 39 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Mohawk Industries during the third quarter worth about $1,781,000. Finally, Chilton Investment Co. LLC boosted its stake in Mohawk Industries by 21.9% in the third quarter. Chilton Investment Co. LLC now owns 6,034 shares of the company’s stock worth $1,209,000 after buying an additional 1,085 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.
Mohawk Industries, Inc. (NYSE:MHK) opened at 222.72 on Monday. The company’s 50 day moving average price is $208.71 and its 200 day moving average price is $203.32. The firm’s market cap is $16.52 billion. Mohawk Industries, Inc. has a 52-week low of $154.89 and a 52-week high of $224.17.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 9th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.04. The firm earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Mohawk Industries had a return on equity of 17.10% and a net margin of 10.39%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. Analysts predict that Mohawk Industries, Inc. will post $13.22 earnings per share for the current fiscal year.
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A number of analysts recently issued reports on the company. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $229.00 price objective for the company in a research report on Monday, January 9th. Barclays PLC assumed coverage on Mohawk Industries in a research report on Thursday, January 5th. They set an “overweight” rating and a $229.00 price objective for the company. Macquarie assumed coverage on Mohawk Industries in a research report on Friday, December 16th. They set an “outperform” rating and a $235.00 price objective for the company. Evercore ISI assumed coverage on Mohawk Industries in a research report on Monday, November 14th. They set a “buy” rating and a $252.00 price objective for the company. Finally, RBC Capital Markets reissued an “outperform” rating and set a $248.00 price objective (up previously from $245.00) on shares of Mohawk Industries in a research report on Monday, December 5th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $231.09.
In other news, Director Cock Frans Georges De bought 3,750 shares of the stock in a transaction on Monday, November 28th. The stock was purchased at an average price of $200.00 per share, for a total transaction of $750,000.00. Following the acquisition, the director now owns 10,016 shares in the company, valued at $2,003,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chistopher Wellborn sold 7,231 shares of the stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $200.00, for a total value of $1,446,200.00. Following the transaction, the insider now owns 174,926 shares of the company’s stock, valued at approximately $34,985,200. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by corporate insiders.
About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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