Catalyst Capital Advisors LLC Continues to Hold Stake in Mohawk Industries, Inc. (NYSE:MHK)
Catalyst Capital Advisors LLC held its position in Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,000 shares of the company’s stock at the end of the second quarter. Catalyst Capital Advisors LLC’s holdings in Mohawk Industries were worth $1,934,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of MHK. Raymond James Trust N.A. bought a new position in Mohawk Industries during the first quarter worth $276,000. Gulf International Bank UK Ltd boosted its position in Mohawk Industries by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 19,091 shares of the company’s stock worth $4,381,000 after buying an additional 325 shares during the last quarter. National Pension Service boosted its position in shares of Mohawk Industries by 5.4% in the first quarter. National Pension Service now owns 59,074 shares of the company’s stock valued at $13,523,000 after buying an additional 3,037 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Mohawk Industries by 10.7% in the first quarter. Bank of Montreal Can now owns 168,294 shares of the company’s stock valued at $38,622,000 after buying an additional 16,293 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in shares of Mohawk Industries by 1.0% in the first quarter. Capstone Asset Management Co. now owns 5,007 shares of the company’s stock valued at $1,149,000 after buying an additional 48 shares in the last quarter. 76.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Mohawk Industries, Inc. (MHK) opened at 245.43 on Friday. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $252.89. The firm’s market capitalization is $18.24 billion. The stock has a 50 day moving average of $245.96 and a 200-day moving average of $234.13.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.12. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.47 earnings per share. On average, equities analysts anticipate that Mohawk Industries, Inc. will post $13.53 earnings per share for the current fiscal year.
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Several equities analysts have commented on the stock. MKM Partners reissued a “buy” rating and issued a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. BidaskClub cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Credit Suisse Group assumed coverage on shares of Mohawk Industries in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price target for the company. Stifel Nicolaus raised their price target on shares of Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $266.64.
In other news, VP Rodney David Patton sold 387 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $242.00, for a total value of $93,654.00. Following the completion of the transaction, the vice president now directly owns 7,061 shares in the company, valued at $1,708,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cock Frans Georges De sold 1,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $238.27, for a total transaction of $238,270.00. Following the completion of the transaction, the director now owns 13,016 shares of the company’s stock, valued at $3,101,322.32. The disclosure for this sale can be found here. Insiders sold 7,587 shares of company stock valued at $1,823,768 over the last 90 days. Insiders own 17.10% of the company’s stock.
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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