5,056 Shares in Mohawk Industries Inc. (MHK) Acquired by Quantitative Systematic Strategies LLC
Quantitative Systematic Strategies LLC bought a new position in Mohawk Industries Inc. (NYSE:MHK) during the second quarter, Holdings Channel reports. The institutional investor bought 5,056 shares of the company’s stock, valued at approximately $952,000.
Several other hedge funds have also bought and sold shares of MHK. Meeder Asset Management Inc. acquired a new stake in Mohawk Industries during the first quarter worth $259,000. Rafferty Asset Management LLC increased its stake in Mohawk Industries by 54.6% in the first quarter. Rafferty Asset Management LLC now owns 6,725 shares of the company’s stock worth $1,284,000 after buying an additional 2,374 shares during the period. BB&T Securities LLC increased its stake in Mohawk Industries by 108.0% in the first quarter. BB&T Securities LLC now owns 40,395 shares of the company’s stock worth $7,711,000 after buying an additional 20,978 shares during the period. 1832 Asset Management L.P. increased its stake in Mohawk Industries by 17.8% in the first quarter. 1832 Asset Management L.P. now owns 240,417 shares of the company’s stock worth $77,107,000 after buying an additional 36,407 shares during the period. Finally, Credit Agricole S A increased its stake in Mohawk Industries by 432.6% in the first quarter. Credit Agricole S A now owns 171,123 shares of the company’s stock worth $32,667,000 after buying an additional 138,993 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.
Shares of Mohawk Industries Inc. (NYSE:MHK) traded up 0.18% during midday trading on Monday, hitting $198.12. 142,549 shares of the stock traded hands. The stock has a 50-day moving average of $206.64 and a 200-day moving average of $199.50. The company’s market cap is $14.69 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 quarterly earnings results on Thursday, August 4th. The company reported $3.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.36 by $0.11. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $2.69 earnings per share. On average, equities analysts predict that Mohawk Industries Inc. will post $12.46 earnings per share for the current fiscal year.
MHK has been the topic of several analyst reports. MKM Partners upped their price target on shares of Mohawk Industries from $244.00 to $246.00 and gave the company a “buy” rating in a report on Monday, August 8th. Royal Bank Of Canada upped their price target on shares of Mohawk Industries from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Gabelli initiated coverage on shares of Mohawk Industries in a report on Tuesday, August 9th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating and set a $238.00 price target on the stock in a report on Tuesday, August 9th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $245.00 price target (up from $220.00) on shares of Mohawk Industries in a report on Wednesday, August 10th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $224.75.
In other news, insider Suzanne L. Helen sold 4,600 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Also, insider Brian Carson sold 215 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $213.38, for a total transaction of $45,876.70. Following the sale, the insider now owns 30,929 shares of the company’s stock, valued at $6,599,630.02. The disclosure for this sale can be found here. 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’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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