RWC Asset Management LLP cut its position in Mohawk Industries, Inc. (NYSE:MHK) by 53.5% during the third quarter, Holdings Channel reports. The firm owned 39,731 shares of the company’s stock after selling 45,645 shares during the period. RWC Asset Management LLP’s holdings in Mohawk Industries were worth $7,960,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. CFO4Life L.P. purchased a new position in Mohawk Industries during the second quarter worth about $392,000. FineMark National Bank & Trust purchased a new position in Mohawk Industries during the second quarter worth about $1,674,000. Saybrook Capital NC purchased a new position in Mohawk Industries during the second quarter worth about $1,985,000. Egerton Capital UK LLP increased its position in shares of Mohawk Industries by 1.1% in the second quarter. Egerton Capital UK LLP now owns 1,406,504 shares of the company’s stock valued at $266,898,000 after buying an additional 15,387 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC bought a new position in shares of Mohawk Industries during the second quarter valued at $361,000. Institutional investors and hedge funds own 77.90% of the company’s stock.
Mohawk Industries, Inc. (NYSE:MHK) traded up 0.46% on Monday, hitting $223.74. The stock had a trading volume of 285,171 shares. Mohawk Industries, Inc. has a 52-week low of $152.85 and a 52-week high of $225.53. The company has a 50 day moving average price of $208.71 and a 200-day moving average price of $203.32. The company’s market cap is $16.59 billion.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 9th. The company reported $3.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.15 billion. Mohawk Industries had a return on equity of 17.10% and a net margin of 10.39%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.82 EPS. On average, equities research analysts predict that Mohawk Industries, Inc. will post $13.22 earnings per share for the current year.
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Several equities analysts have recently weighed in on MHK shares. Evercore ISI started coverage on Mohawk Industries in a report on Monday, November 14th. They set a “buy” rating and a $252.00 price target for the company. Zacks Investment Research downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 11th. RBC Capital Markets restated an “outperform” rating and set a $248.00 price target (up from $245.00) on shares of Mohawk Industries in a report on Monday, December 5th. Macquarie started coverage on Mohawk Industries in a report on Friday, December 16th. They set an “outperform” rating and a $235.00 price target for the company. Finally, Stifel Nicolaus raised their price target on Mohawk Industries from $230.00 to $255.00 and gave the company a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $233.08.
In other Mohawk Industries news, Director Cock Frans Georges De purchased 3,750 shares of the business’s stock in a transaction on Monday, November 28th. The stock was bought at an average cost of $200.00 per share, for a total transaction of $750,000.00. Following the acquisition, the director now owns 10,016 shares of the company’s stock, valued at approximately $2,003,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chistopher Wellborn sold 7,231 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $200.00, for a total value of $1,446,200.00. Following the completion of the transaction, the insider now owns 174,926 shares of the company’s stock, valued at $34,985,200. The disclosure for this sale can be found here. 17.10% of the stock is owned by 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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