Mohawk Industries, Inc. (MHK) Position Raised by TD Asset Management Inc.
TD Asset Management Inc. increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 127.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,947 shares of the company’s stock after buying an additional 50,472 shares during the period. TD Asset Management Inc.’s holdings in Mohawk Industries were worth $21,739,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Washington Trust Bank increased its stake in Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock valued at $110,000 after buying an additional 215 shares during the last quarter. IFP Advisors Inc increased its stake in Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $121,000 after buying an additional 28 shares during the last quarter. First Manhattan Co. bought a new stake in Mohawk Industries during the second quarter valued at approximately $160,000. Meeder Asset Management Inc. bought a new stake in Mohawk Industries during the first quarter valued at approximately $179,000. Finally, Bahl & Gaynor Inc. bought a new stake in Mohawk Industries during the first quarter valued at approximately $202,000. 76.31% of the stock is owned by institutional investors.
Shares of Mohawk Industries, Inc. (NYSE MHK) opened at 245.43 on Friday. The firm’s market cap is $18.24 billion. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $252.89. The firm’s 50-day moving average price is $245.96 and its 200 day moving average price is $234.13.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the firm earned $3.47 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Analysts predict that Mohawk Industries, Inc. will post $13.53 EPS for the current year.
Several equities research analysts have recently commented on the company. MKM Partners reissued a “buy” rating and issued a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $291.00 price objective on shares of Mohawk Industries in a report on Monday, July 31st. Zacks Investment Research downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Finally, Credit Suisse Group assumed coverage on Mohawk Industries in a report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $266.64.
In other Mohawk Industries news, VP Rodney David Patton sold 387 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $242.00, for a total value of $93,654.00. Following the transaction, the vice president now owns 7,061 shares of the company’s stock, valued at $1,708,762. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Cock Frans Georges De sold 1,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $238.27, for a total value of $238,270.00. Following the completion of the transaction, the director now directly owns 13,016 shares in the company, valued at approximately $3,101,322.32. The disclosure for this sale can be found here. In the last three months, insiders sold 7,587 shares of company stock worth $1,823,768. 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’ 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.
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.