Shell Asset Management Co. Sells 172 Shares of Mohawk Industries, Inc. (MHK)
Shell Asset Management Co. decreased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 3,602 shares of the company’s stock after selling 172 shares during the period. Shell Asset Management Co.’s holdings in Mohawk Industries were worth $871,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the stock. Washington Trust Bank boosted its stake in Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock worth $110,000 after buying an additional 215 shares in the last quarter. IFP Advisors Inc boosted its stake in Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Mohawk Industries during the first quarter worth about $179,000. Bahl & Gaynor Inc. bought a new stake in Mohawk Industries during the first quarter worth about $202,000. Finally, King Luther Capital Management Corp bought a new stake in Mohawk Industries during the first quarter worth about $225,000. 76.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Mohawk Industries, Inc. (NYSE MHK) opened at 249.68 on Thursday. Mohawk Industries, Inc. has a 52 week low of $175.52 and a 52 week high of $252.89. The firm’s 50-day moving average is $245.78 and its 200 day moving average is $233.79. The firm’s market cap is $18.56 billion.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company posted $3.47 earnings per share. Mohawk Industries’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Mohawk Industries, Inc. will post $13.53 EPS for the current year.
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A number of equities research analysts recently issued reports on MHK shares. BidaskClub cut shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 price target on shares of Mohawk Industries in a research note on Monday, May 1st. MKM Partners reissued a “buy” rating and issued a $255.00 price target on shares of Mohawk Industries in a research note on Tuesday, April 18th. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target on the stock in a research note on Tuesday, July 4th. Finally, Instinet reissued a “buy” rating and issued a $280.00 price target on shares of Mohawk Industries in a research note on Friday, April 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Mohawk Industries currently has an average rating of “Buy” and a consensus price target of $266.64.
In other Mohawk Industries news, Director Cock Frans Georges De sold 1,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $238.27, for a total value of $238,270.00. Following the transaction, the director now owns 13,016 shares in the company, valued at $3,101,322.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 6,200 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $240.62, for a total value of $1,491,844.00. The disclosure for this sale can be found here. Insiders have sold 7,587 shares of company stock worth $1,823,768 in the last quarter. 17.10% of the stock is currently owned by corporate insiders.
Mohawk Industries Company Profile
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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