Pitcairn Co. acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,576 shares of the company’s stock, valued at approximately $314,000.
A number of other hedge funds also recently bought and sold shares of MHK. MSI Financial Services Inc increased its stake in Mohawk Industries by 13.1% in the third quarter. MSI Financial Services Inc now owns 597 shares of the company’s stock valued at $120,000 after buying an additional 69 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in Mohawk Industries by 5,954.5% in the third quarter. Cornerstone Advisors Inc. now owns 666 shares of the company’s stock valued at $133,000 after buying an additional 655 shares during the period. SRB Corp boosted its position in Mohawk Industries by 5.5% in the third quarter. SRB Corp now owns 743 shares of the company’s stock valued at $149,000 after buying an additional 39 shares during the period. Global X Management Co. LLC boosted its position in Mohawk Industries by 79.1% in the third quarter. Global X Management Co. LLC now owns 926 shares of the company’s stock valued at $186,000 after buying an additional 409 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in Mohawk Industries during the third quarter valued at $200,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded up 0.45% on Monday, hitting $223.73. The stock had a trading volume of 428,868 shares. The company’s market cap is $16.59 billion. Mohawk Industries, Inc. has a 52 week low of $152.85 and a 52 week high of $225.53. The stock’s 50-day moving average price is $208.71 and its 200 day moving average price is $203.32.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 9th. The company reported $3.26 EPS for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.04. Mohawk Industries had a return on equity of 17.10% and a net margin of 10.39%. The firm earned $2.20 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the company earned $2.82 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts predict that Mohawk Industries, Inc. will post $13.22 EPS for the current year.
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Several research firms have weighed in on MHK. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $229.00 target price on the stock in a research note on Monday, January 9th. Royal Bank Of Canada lifted their target price on Mohawk Industries from $245.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, December 5th. Barclays PLC began coverage on Mohawk Industries in a research note on Thursday, January 5th. They set an “overweight” rating and a $229.00 target price on the stock. Stifel Nicolaus lifted their target price on Mohawk Industries from $230.00 to $255.00 and gave the company a “buy” rating in a research note on Monday. Finally, Macquarie began coverage on Mohawk Industries in a research note on Friday, December 16th. They set an “outperform” rating and a $235.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Mohawk Industries presently has a consensus rating of “Buy” and a consensus target price of $233.08.
In related news, insider Chistopher Wellborn sold 7,231 shares of Mohawk Industries stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $200.00, for a total transaction of $1,446,200.00. Following the completion of the sale, the insider now owns 174,926 shares of the company’s stock, valued at $34,985,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cock Frans Georges De acquired 3,750 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The shares were acquired at an average cost of $200.00 per share, with a total value of $750,000.00. Following the purchase, the director now directly owns 10,016 shares of the company’s stock, valued at approximately $2,003,200. The disclosure for this purchase can be found here. 17.10% of the stock is owned by company insiders.
Mohawk Industries Company Profile
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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