Global X Management Co. LLC boosted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 37.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,363 shares of the company’s stock after buying an additional 369 shares during the period. Global X Management Co. LLC’s holdings in Mohawk Industries were worth $313,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of MHK. Russell Investments Group Ltd. purchased a new stake in Mohawk Industries during the fourth quarter valued at $8,733,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Mohawk Industries by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,614 shares of the company’s stock valued at $722,000 after buying an additional 14 shares during the last quarter. Keybank National Association OH raised its stake in Mohawk Industries by 57.5% in the fourth quarter. Keybank National Association OH now owns 3,466 shares of the company’s stock valued at $692,000 after buying an additional 1,266 shares during the last quarter. Elkfork Partners LLC purchased a new stake in Mohawk Industries during the fourth quarter valued at $435,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Mohawk Industries during the fourth quarter valued at $366,000. 77.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded up 1.38% during mid-day trading on Friday, hitting $246.06. 164,990 shares of the company were exchanged. The firm has a 50 day moving average of $236.25 and a 200 day moving average of $223.14. The company’s market capitalization is $18.29 billion. Mohawk Industries, Inc. has a 12-month low of $175.52 and a 12-month high of $246.06.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, April 27th. The company reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.01. Mohawk Industries had a return on equity of 16.88% and a net margin of 10.65%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business posted $2.38 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Mohawk Industries, Inc. will post $13.34 earnings per share for the current year.
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Several equities research analysts have recently weighed in on MHK shares. Barclays PLC upped their target price on shares of Mohawk Industries from $251.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, March 20th. Nomura initiated coverage on shares of Mohawk Industries in a report on Wednesday, April 12th. They set a “buy” rating and a $280.00 price objective on the stock. Instinet reissued a “buy” rating and set a $280.00 price objective on shares of Mohawk Industries in a report on Friday, April 14th. MKM Partners reissued a “buy” rating and set a $255.00 price objective on shares of Mohawk Industries in a report on Tuesday, April 18th. Finally, Stifel Nicolaus increased their price objective on shares of Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $258.09.
In other Mohawk Industries news, insider Suzanne L. Helen sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $240.62, for a total value of $1,491,844.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cock Frans Georges De sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $238.27, for a total value of $238,270.00. Following the completion of the transaction, the director now directly owns 13,016 shares in the company, valued at $3,101,322.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,587 shares of company stock worth $1,823,768. Insiders own 17.10% of the company’s stock.
About Mohawk Industries
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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