Stellar Capital Management LLC decreased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,685 shares of the company’s stock after selling 140 shares during the period. Mohawk Industries makes up 2.4% of Stellar Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Stellar Capital Management LLC’s holdings in Mohawk Industries were worth $3,141,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock valued at $1,373,997,000 after buying an additional 185,698 shares during the period. JPMorgan Chase & Co. raised its stake in Mohawk Industries by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 4,616,502 shares of the company’s stock valued at $1,059,441,000 after buying an additional 159,231 shares during the period. BlackRock Inc. raised its stake in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock valued at $992,431,000 after buying an additional 4,196,790 shares during the period. FMR LLC raised its stake in Mohawk Industries by 5.5% in the first quarter. FMR LLC now owns 2,690,837 shares of the company’s stock valued at $617,520,000 after buying an additional 139,080 shares during the period. Finally, Egerton Capital UK LLP raised its stake in Mohawk Industries by 3.1% in the first quarter. Egerton Capital UK LLP now owns 1,432,719 shares of the company’s stock valued at $328,795,000 after buying an additional 42,925 shares during the period. Hedge funds and other institutional investors own 77.54% of the company’s stock.
Mohawk Industries, Inc. (MHK) traded up 0.23% on Wednesday, reaching $244.18. 58,204 shares of the company’s stock traded hands. The firm’s 50-day moving average is $236.25 and its 200 day moving average is $223.14. The stock’s market capitalization is $18.15 billion. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $245.90.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, April 27th. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.01. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. Mohawk Industries had a net margin of 10.65% and a return on equity of 16.88%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $2.38 EPS. Analysts forecast that Mohawk Industries, Inc. will post $13.35 EPS for the current year.
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Several equities research analysts recently weighed in on MHK shares. Instinet reiterated a “buy” rating and set a $280.00 price objective on shares of Mohawk Industries in a research note on Friday, April 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 price objective on shares of Mohawk Industries in a research note on Monday, May 1st. BidaskClub upgraded shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. MKM Partners reiterated a “buy” rating and set a $255.00 price objective on shares of Mohawk Industries in a research note on Tuesday, April 18th. Finally, Barclays PLC increased their price objective on shares of Mohawk Industries from $251.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, March 20th. Two investment 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’s stock. The company has an average rating of “Buy” and a consensus target price of $258.09.
In related news, insider Suzanne L. Helen sold 6,200 shares of Mohawk Industries stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $240.62, for a total transaction of $1,491,844.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $238.27, for a total transaction of $238,270.00. Following the transaction, the director now directly owns 13,016 shares of the company’s stock, valued at $3,101,322.32. The disclosure for this sale can be found here. Insiders have sold a total of 7,587 shares of company stock valued at $1,823,768 over the last three months. 17.10% of the stock is currently owned by insiders.
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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