Atalanta Sosnoff Capital LLC Invests $5,139,000 in Mohawk Industries Inc. (MHK)
Atalanta Sosnoff Capital LLC acquired a new stake in shares of Mohawk Industries Inc. (NYSE:MHK) during the second quarter, Holdings Channel reports. The institutional investor acquired 27,084 shares of the company’s stock, valued at approximately $5,139,000.
Several other institutional investors have also made changes to their positions in MHK. Checchi Capital Advisers LLC increased its position in shares of Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock valued at $160,000 after buying an additional 18 shares during the last quarter. IFP Advisors Inc increased its position in shares of Mohawk Industries by 1.9% in the first quarter. IFP Advisors Inc now owns 1,027 shares of the company’s stock valued at $196,000 after buying an additional 19 shares during the last quarter. First Republic Investment Management Inc. acquired a new position in shares of Mohawk Industries during the first quarter valued at approximately $224,000. Meeder Asset Management Inc. acquired a new position in shares of Mohawk Industries during the first quarter valued at approximately $259,000. Finally, Mn Services Vermogensbeheer B.V. acquired a new position in shares of Mohawk Industries during the first quarter valued at approximately $261,000. Institutional investors and hedge funds own 78.04% of the company’s stock.
Shares of Mohawk Industries Inc. (NYSE:MHK) traded down 0.13% during midday trading on Tuesday, reaching $206.10. The company’s stock had a trading volume of 287,432 shares. Mohawk Industries Inc. has a 52 week low of $148.56 and a 52 week high of $216.58. The stock’s market capitalization is $15.28 billion. The company has a 50 day moving average price of $210.10 and a 200-day moving average price of $198.04.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, August 4th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.36 by $0.11. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. Mohawk Industries had a return on equity of 17.22% and a net margin of 9.65%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $2.69 EPS. On average, equities research analysts expect that Mohawk Industries Inc. will post $12.46 EPS for the current year.
MHK has been the topic of several research analyst reports. Gabelli initiated coverage on Mohawk Industries in a research report on Tuesday, August 9th. They issued a “buy” rating on the stock. MKM Partners boosted their price objective on Mohawk Industries from $244.00 to $246.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Mohawk Industries in a research report on Wednesday, July 6th. Credit Suisse Group AG restated a “buy” rating on shares of Mohawk Industries in a research report on Tuesday, June 28th. Finally, Topeka Capital Markets initiated coverage on Mohawk Industries in a research report on Monday, May 23rd. They issued a “hold” rating and a $185.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Mohawk Industries presently has a consensus rating of “Buy” and a consensus price target of $224.18.
In other news, insider Suzanne L. Helen sold 4,600 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $216.00, for a total transaction of $993,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian Carson sold 1,942 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $214.28, for a total transaction of $416,131.76. Following the sale, the insider now directly owns 30,929 shares in the company, valued at $6,627,466.12. The disclosure for this sale can be found here. 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’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.
Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries Inc. (NYSE:MHK).
Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.