Mohawk Industries Inc. (MHK) Stake Boosted by Vanguard Group Inc.
Vanguard Group Inc. increased its position in Mohawk Industries Inc. (NYSE:MHK) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,547,384 shares of the company’s stock after buying an additional 111,958 shares during the period. Vanguard Group Inc. owned 7.48% of Mohawk Industries worth $1,052,671,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC increased its position in Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock worth $160,000 after buying an additional 18 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Mohawk Industries during the second quarter worth $166,000. IFP Advisors Inc increased its position in Mohawk Industries by 1.9% in the first quarter. IFP Advisors Inc now owns 1,027 shares of the company’s stock worth $196,000 after buying an additional 19 shares in the last quarter. Intrust Bank NA bought a new position in Mohawk Industries during the second quarter worth $217,000. Finally, First Republic Investment Management Inc. bought a new position in Mohawk Industries during the first quarter worth $224,000. 78.64% of the stock is currently owned by institutional investors.
Shares of Mohawk Industries Inc. (NYSE:MHK) traded down 0.50% on Wednesday, reaching $205.06. 140,095 shares of the company’s stock traded hands. The company’s 50-day moving average is $210.10 and its 200-day moving average is $198.04. The firm’s market capitalization is $15.21 billion. Mohawk Industries Inc. has a 52 week low of $148.56 and a 52 week high of $216.58.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, August 4th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.36 by $0.11. The firm earned $2.31 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Mohawk Industries had a net margin of 9.65% and a return on equity of 17.22%. The company’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.69 earnings per share. Equities research analysts anticipate that Mohawk Industries Inc. will post $12.46 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on MHK shares. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Mohawk Industries in a research note on Wednesday, July 6th. Credit Suisse Group AG reissued a “buy” rating on shares of Mohawk Industries in a research note on Tuesday, June 28th. MKM Partners raised their target price on shares of Mohawk Industries from $244.00 to $246.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Gabelli initiated coverage on shares of Mohawk Industries in a research note on Tuesday, August 9th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised shares of Mohawk Industries from a “sell” rating to a “hold” rating and set a $238.00 target price on the stock in a research note on Tuesday, August 9th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of “Buy” and an average target price of $224.18.
In other Mohawk Industries news, insider Suzanne L. Helen sold 4,600 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $216.00, for a total value of $993,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 9,300 shares of Mohawk Industries stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $214.00, for a total transaction of $1,990,200.00. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by company insiders.
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.
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